Narrow your search

Library

UAntwerpen (4)

KBR (2)

KU Leuven (2)

VUB (1)


Resource type

book (7)

digital (2)


Language

English (9)


Year
From To Submit

2015 (2)

2011 (3)

1997 (4)

Listing 1 - 9 of 9
Sort by

Digital
The Exact Law of Large Numbers for Independent Random Matching
Authors: ---
Year: 2011 Publisher: Cambridge, Mass. National Bureau of Economic Research

Loading...
Export citation

Choose an application

Bookmark

Abstract

This paper provides a mathematical foundation for independent random matching of a large population, as widely used in the economics literature. We consider both static and dynamic systems with random mutation, partial matching arising from search, and type changes induced by matching. Under independence assumptions at each randomization step, we show that there is an almost-sure constant cross-sectional distribution of types in a large population, and moreover that the multi-period cross-sectional distribution of types is deterministic and evolves according to the transition matrices of the type process of a given agent. We also show the existence of a joint agent-probability space, and randomized mutation, partial matching and match-induced type-changing functions that satisfy appropriate independence conditions, where the agent space is an extension of the classical Lebesgue unit interval.


Book
On Loeb measure spaces and their significance for non-cooperative game theory
Authors: ---
Year: 1997 Publisher: Louvain-la-Neuve Center for Operations Research and Econometrics

Loading...
Export citation

Choose an application

Bookmark

Abstract


Book
On the decomposition and characterization of risk
Authors: ---
Year: 1997 Publisher: Louvain-la-Neuve Center for Operations Research and Econometrics

Loading...
Export citation

Choose an application

Bookmark

Abstract


Digital
Dynamic Directed Random Matching
Authors: --- ---
Year: 2015 Publisher: Cambridge, Mass. National Bureau of Economic Research

Loading...
Export citation

Choose an application

Bookmark

Abstract

We demonstrate the existence of a continuum of agents conducting directed random searches for counterparties, and characterize the implications. Our results provide the first probabilistic foundation for static and dynamic directed random search (including the matching function approach) that is commonly used in the search-based models of financial markets, monetary theory, and labor economics. The agents' types are shown to be independent discrete-time Markov processes that incorporate the effects of random mutation, random matching with match-induced type changes, and with the potential for enduring partnerships that may have randomly timed break-ups. The multi-period cross-sectional distribution of types is shown to be deterministic via the exact law of large numbers.


Book
The Exact Law of Large Numbers for Independent Random Matching
Authors: --- ---
Year: 2011 Publisher: Cambridge, Mass. National Bureau of Economic Research

Loading...
Export citation

Choose an application

Bookmark

Abstract

This paper provides a mathematical foundation for independent random matching of a large population, as widely used in the economics literature. We consider both static and dynamic systems with random mutation, partial matching arising from search, and type changes induced by matching. Under independence assumptions at each randomization step, we show that there is an almost-sure constant cross-sectional distribution of types in a large population, and moreover that the multi-period cross-sectional distribution of types is deterministic and evolves according to the transition matrices of the type process of a given agent. We also show the existence of a joint agent-probability space, and randomized mutation, partial matching and match-induced type-changing functions that satisfy appropriate independence conditions, where the agent space is an extension of the classical Lebesgue unit interval.

Keywords


Book
On the decomposition and characterization of risk
Authors: --- ---
Year: 1997 Publisher: Louvain-la-Neuve Université catholique de Louvain. Center for Operations Research & Econometrics

Loading...
Export citation

Choose an application

Bookmark

Abstract

Keywords


Book
On loeb measure spaces and their significance for non-cooperative game theory
Authors: --- ---
Year: 1997 Publisher: Louvain-la-Neuve Université catholique de Louvain. Center for Operations Research & Econometrics

Loading...
Export citation

Choose an application

Bookmark

Abstract

Keywords


Book
Dynamic Directed Random Matching
Authors: --- --- ---
Year: 2015 Publisher: Cambridge, Mass. National Bureau of Economic Research

Loading...
Export citation

Choose an application

Bookmark

Abstract

We develop a general and unified model in which a continuum of agents conduct directed random searches for counterparties. Our results provide the first probabilistic foundation for static and dynamic models of directed search (including the matching-function approach) that are common in search-based models of financial markets, monetary theory, and labor economics. The agents' types are shown to be independent discrete-time Markov processes that incorporate the effects of random mutation, random matching with match-induced type changes, and with the potential for enduring partnerships that may have randomly timed break-ups. The multi-period cross-sectional distribution of types is shown to be deterministic and is calculated using the exact law of large numbers.

Keywords

Listing 1 - 9 of 9
Sort by


Copyright ©2024 SemperTool