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Preprints, Working Papers, ... (Working Paper) Year : 2020

A Hedonic Model with Rationing by Waiting

Abstract

We propose a new class of hedonic models with sticky prices and queues. Time replaces money as the invisible hand in the market. Unlike money, time is non-transferable to the trading partner. We prove the existence and uniqueness of the equilibrium, and we compare our model with the standard hedonic model with free-market prices. Our model can be used to study the market equilibrium and welfare implications when the prices are regulated, which is beyond the scope of the classical hedonic analysis.
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Dates and versions

hal-03936336 , version 1 (12-01-2023)

Licence

Attribution - NonCommercial - NoDerivatives

Identifiers

  • HAL Id : hal-03936336 , version 1

Cite

Alfred Galichon, Yu-Wei Hsieh. A Hedonic Model with Rationing by Waiting. 2020. ⟨hal-03936336⟩
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