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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
assignment game. We consider the Core, three other notions of group stability and two alternative definitions of competitive … equilibrium. We show that (i) each group stable set is closely related with the Core of certain games defined using a proper …
Persistent link: https://www.econbiz.de/10011019700
-wise stability and Core. We first establish that the Set-wise stable set is contained in the Core and it contains the non-empty set … competitive equilibrium payoffs. Third, for any number of replicas there is a market with a Core payoff that is not a competitive …
Persistent link: https://www.econbiz.de/10011019707
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 characterization of indirect dominance, we investigate...
Persistent link: https://www.econbiz.de/10010547165
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 … usually defined on the core. …
Persistent link: https://www.econbiz.de/10010547178
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
. Those max-payoff vectors that are efficient turn up to give the extreme core allocations of the market. When the assignment … market has large core (that is to say, the assignment matrix is dominant diagonal and doubly dominant diagonal) all the max …-payoff vectors are extreme core allocations. …
Persistent link: https://www.econbiz.de/10010547224
We extend Jackson and Watts's (2002) result on the coincidence of S-stochastically stable and core stable networks from … marriage problems to roommate problems. In particular, we show that the existence of a side-optimal core stable network, on …
Persistent link: https://www.econbiz.de/10010547235
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