Existence of independent random matching
Open Access
- 1 February 2007
- journal article
- Published by Institute of Mathematical Statistics in The Annals of Applied Probability
- Vol. 17 (1)
- https://doi.org/10.1214/105051606000000673
Abstract
This paper shows the existence of independent random matching of a large (continuum) population in both static and dynamic systems, which has been popular in the economics and genetics literatures. We construct a joint agent-probability space, and randomized mutation, partial matching and match-induced type-changing functions that satisfy appropriate independence conditions. The proofs are achieved via nonstandard analysis. The proof for the dynamic setting relies on a new Fubini-type theorem for an infinite product of Loeb transition probabilities, based on which a continuum of independent Markov chains is derived from random mutation, random partial matching and random type changing.Comment: Published at http://dx.doi.org/10.1214/105051606000000673 in the Annals of Applied Probability (http://www.imstat.org/aap/) by the Institute of Mathematical Statistics (http://www.imstat.orgKeywords
All Related Versions
This publication has 33 references indexed in Scilit:
- The exact law of large numbers for independent random matchingJournal of Economic Theory, 2012
- Over-the-Counter MarketsEconometrica, 2005
- A METRIC ON PROBABILITIES, AND PRODUCTS OF LOEB SPACESJournal of the London Mathematical Society, 2004
- The almost equivalence of pairwise and mutual independence and the duality with exchangeabilityProbability Theory and Related Fields, 1998
- Getting to a Competitive EquilibriumEconometrica, 1996
- Approximate tâtonnement processesEconomic Theory, 1995
- A Law of Large Numbers for Fast Price AdjustmentTransactions of the American Mathematical Society, 1992
- Inventories and Money Holdings in a Search EconomyEconometrica, 1990
- Conversion from Nonstandard to Standard Measure Spaces and Applications in Probability TheoryTransactions of the American Mathematical Society, 1975
- Stochastic Processes Depending on a Continuous ParameterTransactions of the American Mathematical Society, 1937