Trading Networks with General Preferences
Jan Christoph Schlegel
Papers from arXiv.org
We establish several structural results for the set of competitive equilibria in bilateral trading networks with transfers in the case of imperfectly transferable utility and frictions: The lattice theorem, the rural hospitals theorem, the existence of side-optimal equilibria, compactness of the set of equilibria and a group-incentive-compatibility result hold without the assumption of quasi-linear utility in transfers. While our results are developed in a trading network model, they also imply analogous (and new) results for exchange economies with combinatorial demand and for two-sided matching markets with transfers.
New Economics Papers: this item is included in nep-gth and nep-upt
Date: 2018-08, Revised 2019-02
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