A characterisation of trading equilibria in market games

We provide a full characterisation of the set of trading equilibria (in which all goods are traded at a positive price) in a strategic market game (as introduced by Shapley and Shubik),for both the "buy and sell" and the "buy or sell" versions of this model under standard assumptions on the utility functions.We also interpret and illustrate our main equilibrium-characterising condition, using simple examples.

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Year of publication:	2020
Authors:	Mitra, Manipushpak ; Ray, Indrajit ; Roy, Souvik
Publisher:	Cardiff : Cardiff University, Cardiff Business School
Subject:	strategic market game \| trading equilibrium \| buy and sell \| buy or sell

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Series:	Cardiff Economics Working Papers ; E2020/8
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1701042800 [GVK] hdl:10419/250318 [Handle] RePEc:cdf:wpaper:2020/8 [RePEc]
Classification:	C72 - Noncooperative Games ; D44 - Auctions
Source:	EconStor

Persistent link: https://www.econbiz.de/10012876003