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We develop a theory of stability in many-to-many matching markets. We give conditions under which the setwise … the standard theory of stability for many-to-one, and one-to-one, models. We provide results for a number of core …
Persistent link: https://www.econbiz.de/10005654779
I count the number of combinatorial choice rules that satisfy certain properties: Kelso-Crawford substitutability, and independence of irrelevant alternatives. The results are important for two-sided matching theory, where agents are modeled by combinatorial choice rules with these properties....
Persistent link: https://www.econbiz.de/10005292965
We study many-to-one matchings, such as the assignment of students to colleges, where the students have preferences over the other students who would attend the same college. It is well known that the core of this model may be empty, without strong assumptions on agents’ preferences. We...
Persistent link: https://www.econbiz.de/10005654821
I survey the recent literature on the formation of networks. I provide definitions of network games, a number of examples of models from the literature, and discuss some of what is known about the (in)compatibitily of overall societal welfare with individual incentives to form and sever links.
Persistent link: https://www.econbiz.de/10005128075
Persistent link: https://www.econbiz.de/10005128319
A simple example shows that equilibria can fail to exist in second price (Vickrey) and English auctions when there are both common and private components to bidders' valuations and private information is held on both dimensions. The example shows that equilibrium only exists in the extremes of...
Persistent link: https://www.econbiz.de/10005482209
We make two main contributions to the theory of optimal income taxation. First, assuming conditions sufficient for existence of a Pareto optimal income tax and public goods mechanism, we show that if, in addition, agents' preferences satisfy an extended notion of single crossing called capacity...
Persistent link: https://www.econbiz.de/10005128047