Comment on Mclennan and Sonnenschein

Oscar Volij () and Roberto Serrano
Authors registered in the RePEc Author Service: Nir Dagan ()

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: Two important articles in the literature on decentralized strategic markets are Gale (1986) and McLennan and Sonnenschein (1991). McLennan and Sonnenschein (1991) claim to have generalized Gale (1986) in several respects. In doing so, they introduce mainly two modifications: 1. unbounded short sales are allowed, and 2. agents do not observe their trading partner's characteristics.

Date: 1998-01-01
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Citations: View citations in EconPapers (6)

Published in Econometrica 1998, vol. 66, pp. 1231-1233

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