Robust market equilibria under uncertain cost

Christian Biefel, Frauke Liers, Jan Rolfes, Lars Schewe, Gregor Zöttl

Abstract: Highlights•Uncertainty plays an important role in many market models.•There is a gap between equilibria with robust players and robust welfare optimal solutions.•We provide theoretical results and quantify this gap.•We consider strict as well as adjustable robustness.