Showing 1 - 10 of 19
, hence agreements must be stable against both types of deviations. The appropriate extension of the classical core concept …, the Sustainable Core, is defined for this new setup to test the stability of allocations in such a complex environment. A … achieved by choosing an element in the Sustainable Core. …
Persistent link: https://www.econbiz.de/10010734790
and Yang (2008) always finds a core allocation in finitely many iterations, thus resulting in a Pareto efficient outcome. …
Persistent link: https://www.econbiz.de/10010781612
assumption that an individual consumes at most one object. In this environment we analyze the core of the economy and … implicitly defined by a strategy-proof and Pareto efficient mechanism and show a core property for the mechanism …
Persistent link: https://www.econbiz.de/10005645140
This paper explores a housing market with an existing tenant in each house and where the existing tenants initially rent their houses. The idea is to identify equilibrium prices for the housing market given the prerequisite that a tenant can buy any house on the housing market, including the one...
Persistent link: https://www.econbiz.de/10011266604
We address the issue of bidder ring formation in single and multi-unit Vickrey auctions. We address this issue in a bargaining game set up under the assumption that valuation of bidders is commonly known only amongst themselves. In the single unit case, we show that the equilibrium coalition...
Persistent link: https://www.econbiz.de/10011124334
We consider envy-free and budget-balanced allocation rules for problems where a number of indivisible objects and a fixed amount of money is allocated among a group of agents. In "small" economies, we identify under classical preferences each agent's maximal gain from manipulation. Using this...
Persistent link: https://www.econbiz.de/10010818647
We introduce externalities into a two-sided, one-to-one assignment game by letting the values generated by pairs depend on the behavior of the other agents. Extending the notion of blocking to this setup is not straightforward; a pair has to take into account the possible reaction of the residual...
Persistent link: https://www.econbiz.de/10010734770
We investigate framing effects in a large-scale public good experiment. We measure indicators of explanations previously proposed in the literature, which when combined with the large sample, enable us to estimate a structural model of framing effects. The model captures potential causal effects...
Persistent link: https://www.econbiz.de/10010734796
In many real-life house allocation problems, rents are bounded from above by price ceilings imposed by a government or a local administration. This is known as rent control. Because some price equilibria may be disqualified given such restrictions, this paper proposes an alternative equilibrium...
Persistent link: https://www.econbiz.de/10010798193
This paper explores the situation when tenants in public houses, in a specific neighborhood, are given the legislated right to buy the houses they live in but can choose to remain in their houses and pay the regulated rent. This type of legislation has been passed in many European countries in...
Persistent link: https://www.econbiz.de/10010780761