| Popis: |
We study bilateral trading networks with imperfectly transferable utility and frictions. Several structural results for the set of competitive equilibria in trading networks are established: The lattice theorem, the rural hospitals theorem, the existence of side-optimal equilibria, compactness of the set of equilibria and a group-incentive-compatibility result hold without the assumption of quasi-linear utility in transfers. While our results are developed in a trading network model, they also imply analogous (and new) results for exchange economies with combinatorial demand and for two-sided matching markets with transfers. |
