We study transferable utility games with limited cooperation between the agents. The focus is on communication structures where the set of agents forms a circle, so that the possibilities of cooperation are represented by the connected sets of nodes of an undirected circular graph. Agents are...

An auctioneer wishes to sell several heterogeneous indivisible items to a group of potential bidders. Each bidder has valuations over the items but faces a budget constraint and may therefore not be able to pay up to his valuations. In such markets, a competitive equilibrium typically fails to...