Efficient non-contractible investments in large economies.
type: Item
instance of: scholarly article
title: Efficient non-contractible investments in large economies.
zbMATH Open document ID: 1050.91040
author: Harold L. Cole
author: George J. Mailath
author: Andrew Postlewaite
published in: Journal of Economic Theory
publication date: 2001-01-01T00:00:00Z
review text: The authors describe a two-sided matching model in which buyers and sellers make investments prior to matching. Once matched, buyers and sellers bargain over the price by regarding outside options. Efficient decisions can be sustained in equilibrium. Inefficiences being able to arise in equilibrium are characterized. It is shown that equilibria will be constraint efficient, and that the degree of diversity in a large market has implications for the extent of any inefficiency.
Mathematics Subject Classification ID: 91B28
Mathematics Subject Classification ID: 91B68
zbMATH DE Number: 1736548
zbMATH Keywords: two-sided matching model
zbMATH Keywords: efficient decisions
zbMATH Keywords: inefficiences
reviewed by: Klaus Ehemann
MaRDI profile type: Publication
full work available at URL: jeth.2001.2797
OpenAlex ID: W2020968181
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DOI: 10.1006/JETH.2001.2797
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description: scientific article; zbMATH DE number 1736548