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preferences. I investigate this question in an environment of matching allocation problems. There are two reasons for doing so … in any which way to obtain results on the welfare properties of trade. Secondly, some matching allocation mechanisms have … rationalizable. These results remain valid when restricting attention to \minimally irrational" behavior. -- Bounded Rationality …
Persistent link: https://www.econbiz.de/10008779117
A version of the Second Fundamental Theorem of Welfare Economics that applies to a money-free environment, in which a set of indivisible goods needs to be matched to some set of agents, is established. In such environments, "trade" can be identified with the set of hierarchical exchange...
Persistent link: https://www.econbiz.de/10013122771
A version of the Second Fundamental Theorem of Welfare Economics that applies to a money-free environment, in which a set of indivisible goods needs to be matched to some set of agents, is established. In such environments, 'trade' can be identified with the set of hierarchical exchange...
Persistent link: https://www.econbiz.de/10009129931
Persistent link: https://www.econbiz.de/10003997321
Persistent link: https://www.econbiz.de/10009419834
Rational players in game theory are neoliberal in the sense that they can choose any available action so as to maximize … in n-person non-cooperative games. We also show that both rationality and the NHP are required for this result …
Persistent link: https://www.econbiz.de/10013239912
In this paper we consider one-to-many matching problems where the preferences of the agents involved are represented by … matching to a matching of maximum total reward, one can always provide a compensation schedule that will be ex-post stable in … uses the fact that the core of an associated compensation matching game with constraints is nonempty. …
Persistent link: https://www.econbiz.de/10010373726
Persistent link: https://www.econbiz.de/10014470550
Matching mechanisms are regarded as an important instrument to bring about Pareto optimal allocations in a public good … interior matching equilibrium, however, emerges only under very special conditions. But we show in this note that corner … results by a simple numerical example. -- public goods ; matching ; Pareto optimality …
Persistent link: https://www.econbiz.de/10009011305
-called matching approaches. Matching schemes are regarded as providing a promising approach to overcome undersupply of public goods … like climate protection. The functioning of matching mechanisms in a setting with an incomplete agreement, i.e. a contract … by analyzing incomplete matching agreements in the context of international climate protection. We analyse their effect …
Persistent link: https://www.econbiz.de/10009570868