Multilateral and Bilateral Meetings with Production Heterogeneity

Klaus Kultti () and Toni Riipinen
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Toni Riipinen: LTT Research Ltd, Finland

Finnish Economic Papers, 2003, vol. 16, issue 1, 27-37

Abstract: We study different trading processes in the context of a search-based model of endogenous money. We incorporate heterogeneity into the model by allowing multiple meetings of agents and divisible production. We then determine the equilibrium using three different trading mechanisms: auctions, pairwise bargaining and price posting. The welfare under these mechanisms is compared using specific functional forms for utility and cost functions. The analysis is done numerically with the bench mark of a social welfare maximising planner.

JEL-codes: D44 D52 D83 (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:fep:journl:v:16:y:2003:i:1:p:27-37

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