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P. Jean-Jacques Herings: Competitive Equilibria in Matching Models with Financial Constraints

The Institute of Finance, Accounting and Business Law invited P. Jean-Jacques Herings (Maastricht University) to the Corvinus University of Budapest from 27th September to 1st October 2021 as part of the Corvinus Research Seminar. The talk title was Competitive Equilibria in Matching Models with Financial Constraints. Professor Herings also spoke about his view and tips regarding the publishing process at the beginning of the lecture, building on his editorial experience. After logging in to Corvinus, you can watch his talk on Stream.

Kapcsolódó posztok

Kapcsolódó események

P. Jean-Jacques Herings received his doctorate in economics from the University of Tilburg in 1995. He has published more than 115 articles in leading international scientific journals, including two articles in Management Science with Péter Csóka, a researcher at the Department of Finance. He has received all major Dutch research fellowships. His main research interests are: Economic Theory, Game Theory, Equilibrium Computation, Finance, Industrial Organization, and Political Economy. During the visit of Professor Herings, new theoretical results were obtained with Péter Csóka regarding pairwise netting and the proportional bankruptcy rule, which is often used for circular liabilities. 

Regarding the publication process, Professor Herings talked about getting ideas, writing the paper, submitting the paper, and dealing with the referee reports. The latest abstract of the paper he presented is as follows. “We consider a matching with contracts model in which buyers face financial constraints. In this model, a competitive equilibrium may fail to exist. We therefore propose the new notion of quantity-constrained competitive equilibrium (QCCE). At a QCCE, buyers form expectations about the expected supply of trades. A buyer may expect that a trade is not to be supplied if the corresponding financial constraint is binding. We show the existence of QCCEs via a dynamic process that updates prices and quantity constraints, the equivalence between QCCE outcomes and stable outcomes, and some other properties of QCCEs like the lattice property.” 

Further information:  

Contact: Péter Csóka peter.csoka@uni-corvinus.hu, Department of Finance  

The latest version of the paper: Herings, P. J. J., & Zhou, Y. (2022). Competitive equilibria in matching models with financial constraints. International Economic Review, forthcoming. 

You can watch professor Herings talking about his experience in the publication process and about his paper here: 

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GEN.:2024.04.16. - 20:19:23