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Using a bi-choice graph technique (Klaus and Klijn, 2009), we show that a matching for a roommate market indirectly … dominates another matching if and only if no blocking pair of the former is matched in the latter (Proposition 1). Using this … von Neumann-Morgenstern farsightedly stable if and only if the matching is stable (Theorem 1). We also present roommate …
Persistent link: https://www.econbiz.de/10010547165
coincide and give the midpoint between the buyers-optimal core allocation and the sellers-optimal core allocation, and thus … they belong to the core. Moreover, under the assumption that all agents in the market are active, the subset of core … set of stable allocations where each agent is paid at least half of his maximum core payoff. All allocations in this last …
Persistent link: https://www.econbiz.de/10010851444
geometric and algebraic structure of the core, which is always nonempty. We also characterize the extreme points of the core and … we show that prices that are obtained from core allocations are competitive and vice versa. …
Persistent link: https://www.econbiz.de/10010547213
We provide a different axiomatization of the core interpreted as a reasonable set (Milnor, 1952) and introduce a new … particular, it is shown that the core is the only solution satisfying projection consistency, reasonability, max-intersection and …
Persistent link: https://www.econbiz.de/10010547247
matchings. This implies that whenever the core is non-empty (e.g., for marriage markets), a matching is in the core if and only … if it is stochastically stable, i.e., stochastic stability is a characteristic of the core. Several solution concepts … have been proposed to extend the core to all roommate markets (including those with an empty core). An important …
Persistent link: https://www.econbiz.de/10010547341
We consider the general many-to-one matching model with ordinal preferences and give a procedure to partition the set … of preference profiles into subsets with the property that all preference profiles in the same subset have the same Core … generate as strict extensions all the (complete) preference profiles with the same Core. This is important for applications …
Persistent link: https://www.econbiz.de/10010547423
-solution exists and is unique. It belongs to the bargaining set and to the core whenever the latter is not empty. In fact, when the …
Persistent link: https://www.econbiz.de/10010851496
division core (Selten, 1972). …
Persistent link: https://www.econbiz.de/10010547253
Equivalence classes of normal form games are defined using the discontinuities of correspondences of standard equilibrium concepts like correlated, Nash, and robust equilibrium, or risk dominance and rationalizability. Resulting equivalence classes are fully characterized and compared across...
Persistent link: https://www.econbiz.de/10010547401
matching, a stable set is defined as the union of the core of the game and the core of the subgames that are compatible with … this matching. All these stable sets exclude third-party payments and form a lattice with respect to the same partial order … usually defined on the core. …
Persistent link: https://www.econbiz.de/10010547178