Decentralized Pure Exchange Processes on Networks

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Tác giả: Daniele Cassese, Paolo Pin

Ngôn ngữ: eng

Ký hiệu phân loại: 306.34 Systems of production and exchange

Thông tin xuất bản: 2018

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Bộ sưu tập: Metadata

ID: 161851

Comment: 36 pages, 13 figuresWe define a class of pure exchange Edgeworth trading processes that under minimal assumptions converge to a stable set in the space of allocations, and characterise the Pareto set of these processes. Choosing a specific process belonging to this class, that we define fair trading, we analyse the trade dynamics between agents located on a weighted network. We determine the conditions under which there always exists a one-to-one map between the set of networks and the set of limit points of the dynamics. This result is used to understand what is the effect of the network topology on the trade dynamics and on the final allocation. We find that the positions in the network affect the distribution of the utility gains, given the initial allocations
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