Year: 2025
Type: article
Abstract: This paper seeks to shed some light on elementary market dynamics. For focus and simplicity, it restricts attention to trade of just one private good - presumed perfectly divisible, homogenous, inspectable and transferable. Deals are money-based and driven by orders as to acceptable price-quantity pairs. Essentially, like on internet-designed platforms, each transaction is anonymous, bilateral, ”computerized” , decentralized and discrete. Moreover, nobody ever accepts any setback, and trade unfolds step by step. The paper connects differential properties of economic margins - via agents’ market behavior and communication - to attainment and stability of competitive equilibrium.
Author: Sjur Didrik Flåm
Institution: University of Bergen
Language: English
Topic: Economic theories and models
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $3,290
OpenAlex ID: W4413366519