RT Generic
T1 Prices, delay and the dynamics of trade
A1 Moreno, Diego
A1 Wooders, John
A2 Universidad Carlos III de Madrid. Departamento de Economía, 
AB We characterize trading patterns and their dynamics in a market in which trade is bilateral, finding a trading partner is costly, prices are determined by bargaining, and preferences are private information. We also determine how the trading pattern depends on the market composition. Our analysis reveals that market equilibria may be inefficient and may exhibit delay. As the market becomes frictionless the welfare loss due to inefficiency vanishes; delaypersists, however, and in this respect frictionless markets are not competitive.
SN 2340-5031
YR 1999
FD 1999-05
LK https://hdl.handle.net/10016/7217
UL https://hdl.handle.net/10016/7217
LA eng
DS e-Archivo
RD 3 may. 2024