Approximating the equilibrium quantity traded and welfare in large markets

DOI10.1080/15326349.2017.1304823zbMATH Open1407.91130OpenAlexW2605955387MaRDI QIDQ3133496

Ellen V. Muir, K. Borovkov

Publication date: 2 February 2018

Published in: Stochastic Models (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1080/15326349.2017.1304823

zbMATH Keywords

Brownian bridgeslarge marketsempirical quantile processesBayesian mechanism designefficient market outcome

Mathematics Subject Classification ID

Gaussian processes (60G15) Auctions, bargaining, bidding and selling, and other market models (91B26) General equilibrium theory (91B50) Welfare economics (91B15)

Related Items (3)

The rate at which a simple market converges to efficiency as the number of traders increases: An asymptotic result for optimal trading mechanisms ⋮ Walrasian equilibrium in large, quasilinear markets ⋮ Price-mediated trade with quantity signals: An axiomatic approach.

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