Liquid markets and competition

DOI10.1016/0899-8256(90)90005-FzbMath0753.90013OpenAlexW2111045189MaRDI QIDQ1196627

Karl Shell, James Peck

Publication date: 16 January 1993

Published in: Games and Economic Behavior (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0899-8256(90)90005-f

zbMATH Keywords

competitive equilibriummarket liquidityNash equilibrium allocation

Mathematics Subject Classification ID

General equilibrium theory (91B50)

Related Items (16)

Decentralized pricing and the equivalence between Nash and Walrasian equilibrium ⋮ A market game with symmetric limit orders ⋮ Price stickiness and markup variations in market games ⋮ Strategic market games: an introduction. ⋮ Competitive behavior in market games: evidence and theory ⋮ Retrading in market games. ⋮ On Shapley-Shubik equilibria with financial markets ⋮ Liquid markets and competition ⋮ The market game: Existence and structure of equilibrium ⋮ Trade fragmentation and coordination in strategic market games ⋮ Comparative statics in a simple class of strategic market games ⋮ Convergence of strategic behavior to price taking ⋮ An asymptotic analysis of strategic behavior for exchange economies ⋮ Large market games with demand uncertainty. ⋮ Informed trading and the `leakage' of information ⋮ A battle of informed traders and the market game foundations for rational expectations equilibrium

Cites Work

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• Inefficiency of smooth market mechanisms
• On the generic inefficiency of differentiable market games
• Liquid markets and competition
• The market game: Existence and structure of equilibrium
• Market Uncertainty: Correlated and Sunspot Equilibria in Imperfectly Competitive Economies
• Approximate Efficiency of Non-Walrasian Nash Equilibria
• An Elementary Core Equivalence Theorem
• Markets with a Continuum of Traders
• A Limit Theorem on the Core of an Economy

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