Dynamic Markets with Randomly Arriving Agents

Maher Said

MPRA Paper from University Library of Munich, Germany

Abstract: We develop a model of a dynamic market with randomly arriving participants. Both buyers and sellers arrive probabilistically over time. The valuation of each buyer for each object is independently distributed and private information to each buyer. Equilibrium prices are determined by a sequence of second-price auctions. We examine the manner in which equilibrium behavior and payoffs are influenced by both current market conditions and anticipated future dynamics.

Keywords: Dynamic markets; Random arrivals; Endogenous option value; Sequential auctions; Stochastic equivalence (search for similar items in EconPapers)
JEL-codes: C73 D44 D83 (search for similar items in EconPapers)
Date: 2008-08-05
New Economics Papers: this item is included in nep-cta, nep-dge, nep-gth and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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https://mpra.ub.uni-muenchen.de/9868/1/MPRA_paper_9868.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/11208/1/MPRA_paper_11208.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/14925/1/MPRA_paper_14925.pdf revised version (application/pdf)

Related works:
Journal Article: Sequential auctions with randomly arriving buyers (2011)
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