Price controls, non-price quality competition, and the nonexistence of competitive equilibrium

DOI10.1016/J.GEB.2016.06.012zbMATH Open1394.91142OpenAlexW415065942MaRDI QIDQ324155FDOQ324155

Authors John William Hatfield, Charles R. Plott, Tomomi Tanaka 

Publication date 10 October 2016

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

Full work available at URL https://authors.library.caltech.edu/82941/

zbMATH Keywords

matchingstabilitycompetitive equilibriumcoreprice controls

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Microeconomic theory (price theory and economic markets) (91B24) Matching models (91B68)

Recommendations

• Nonlinear Prices and the Regulated Firm
• Price competition in a nonlinear differentiated duopoly
• Equilibrium and matching under price controls
• Unintended consequences of price controls: an application to allowance markets
• Non-price equilibria for non-marketed goods
• scientific article; zbMATH DE number 4053300
• Price-dependent consumption externalities and non-existence of equilibria
• Double auction dynamics: structural effects of non-binding price controls
• Non-reservation price equilibria and consumer search
• Price and quantity competition in homogeneous duopoly markets

Cites Work

• An Experimental Comparison of Dispute Rates in Alternative Arbitration Systems
• Basic Principles of Asset Pricing Theory: Evidence from Large-Scale Experimental Financial Markets *
• Buying several indivisible goods
• Concurrent trading in two experimental markets with demand interdependence
• Constrained suboptimality when prices are non-competitive
• Continuum economies with finite coalitions: Core, equilibria, and widespread externalities
• Equilibrium and matching under price controls
• Equilibrium under Rigid Prices with Compensation for the Consumers
• Existence of an Exchange Equilibrium under Price Rigidities
• Global instability in experimental general equilibrium: the Scarf example
• Imperfect competition in two-sided matching markets
• Job Matching, Coalition Formation, and Gross Substitutes
• The assignment game. I: The core
• The core of a game with a continuum of players and finite coalitions: The model and some results
• The nonemptiness of the \(f\)-core of a game without side payments

Cited In (4)

• Tick size, price grids and market performance: stable matches as a model of market dynamics and equilibrium
• Expectational equilibria in many-to-one matching models with contracts
• Equilibrium and matching under price controls
• General equilibrium methodology applied to the design, implementation and performance evaluation of large, multi-market and multi-unit policy constrained auctions

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