Template-type: ReDif-Paper 1.0
Author-Name: Kirchsteiger Georg
Author-Name: Alós-Ferrer Carlos
Author-workplace-name: METEOR
Title: Does Learning Lead to Coordination on Market Clearing Institutions?
Abstract: This paper analyzes the question whether traders learn to coordinate on a trading institution that guarantees market clearing, or whether other market institutions can survive in the long run. While we find that the market clearing institution is indeed always stable under a general class of learning dynamics, it turns out that also other, non-market clearing institutions are stable. Hence, in the long run traders may fail to coordinate exclusively on market clearing institutions.
Keywords: industrial organization ; 
Series: Research Memoranda
Creation-Date: 2003
Number: 053
File-URL: http://digitalarchive.maastrichtuniversity.nl/fedora/objects/guid:5254084c-2ae5-42bd-a30e-a8272c1bed51/datastreams/ASSET1/content
File-Format: application/pdf
File-Size: 313539
Handle: RePEc:unm:umamet:2003053