TY - JOUR

T1 - A model of random matching

AU - Gilboa, Itzhak

AU - Matsui, Akihiko

N1 - Funding Information:
*We wish to thank Chaim Fershtman, Larry Jones, George Mailath, Alejandro Manelh, David Schmeidler, and especially Ehud Lehrer and an anonymous referee for helpful comments and references. The first author gratefully acknowledges NSF grants nos. IRI-8814672 and SES-9113108.

PY - 1992

Y1 - 1992

N2 - This paper presents a model of random matching between individuals chosen from large populations. We assume that the populations and the set of encounters are infinite but countable and that the encounters are i.i.d. random variables. Furthermore, the probability distribution on individuals according to which they are chosen for each encounter is 'uniform', which also implies that it is only finitely additive. Although the probability measure which governs the whole matching process also fails to be (fully) sigma-additive, it still retains enough continuity properties to allow for the use of the law of large numbers. This, in turn, guarantees that the aggregate process will (almost surely) behave 'nicely', i.e., that there will be no aggregate uncertainty.

AB - This paper presents a model of random matching between individuals chosen from large populations. We assume that the populations and the set of encounters are infinite but countable and that the encounters are i.i.d. random variables. Furthermore, the probability distribution on individuals according to which they are chosen for each encounter is 'uniform', which also implies that it is only finitely additive. Although the probability measure which governs the whole matching process also fails to be (fully) sigma-additive, it still retains enough continuity properties to allow for the use of the law of large numbers. This, in turn, guarantees that the aggregate process will (almost surely) behave 'nicely', i.e., that there will be no aggregate uncertainty.

UR - http://www.scopus.com/inward/record.url?scp=38249015103&partnerID=8YFLogxK

U2 - 10.1016/0304-4068(92)90010-5

DO - 10.1016/0304-4068(92)90010-5

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AN - SCOPUS:38249015103

SN - 0304-4068

VL - 21

SP - 185

EP - 197

JO - Journal of Mathematical Economics

JF - Journal of Mathematical Economics

IS - 2

ER -