文章基本信息

标题：Chain stability in trading networks
本地全文：下载
作者：John William Hatfield ; Scott Duke Kominers ; Alexandru Nichifor 等
期刊名称：Theoretical Economics
印刷版ISSN：1555-7561
出版年度：2021
卷号：16
期号：1
页码：197-234
DOI：10.3982/TE3839
语种：English
出版社：Econometric Society
摘要：In a general model of trading networks with bilateral contracts, we propose a suitably adapted chain stability concept that plays the same role as pairwise stability in two‐sided settings. We show that chain stability is equivalent to stability if all agents' preferences are jointly fully substitutable and satisfy the Laws of Aggregate Supply and Demand. In the special case of trading networks with transferable utility, an outcome is consistent with competitive equilibrium if and only if it is chain stable.
关键词：Matching; trading networks; chain stability; stability; competitive equilibria; full substitutability; Laws of Aggregate Supply and Demand; C78; D85; L14;