Decentralized trade, random utility and the evolution of social welfare
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Publication:928888
DOI10.1016/j.jet.2007.02.002zbMath1136.91385OpenAlexW3122151979MaRDI QIDQ928888
Roberto Serrano, Michihiro Kandori, Oscar Volij
Publication date: 11 June 2008
Published in: Journal of Economic Theory (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.1016/j.jet.2007.02.002
social welfare functionslogit modeldecentralized tradeexchange economieshousing marketslong-run stochastic stability
Utility theory (91B16) Economic models of real-world systems (e.g., electricity markets, etc.) (91B74)
Related Items (4)
Decentralised exchange, out-of-equilibrium dynamics and convergence to efficiency ⋮ Decentralized trade, random utility and the evolution of social welfare ⋮ House exchange and residential segregation in networks ⋮ Coalitional stochastic stability in games, networks and markets
Cites Work
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- Pigouvian pricing and stochastic evolutionary implementation
- Decentralized trade, random utility and the evolution of social welfare
- The statistical mechanics of strategic interaction
- The evolution of exchange.
- Quantal response equilibria for normal form games
- Learning, Mutation, and Long Run Equilibria in Games
- The Evolution of Conventions
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