| 正文 | This paper studies retrading in a multi-stage Shapley--Shubik structure market game with symmetric limit orders and a finite number of agents. Without restrictions on preferences and endowments, a constructive proof is used to show that any Walrasian allocation can be implemented by a Markov perfect equilibrium if agents are allowed to retrade for a finite number of rounds before they consume. As part of the proof, we give a closed form expression for the required number of rounds, which depends on the Walrasian allocation and the selection of a numeraire. |
