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In this note we study von Neumann-Morgenstern farsightedly stable sets for Shapley and Scarf (1974) housing markets. Kawasaki (2010) shows that the set of competitive allocations coincides with the unique von Neumann-Morgenstern stable set based on a farsighted version of antisymmetric weak...
Persistent link: https://www.econbiz.de/10008870897
We consider several notions of setwise stability for many-to-many matching markets with contracts and provide an analysis of the relations between the resulting sets of stable allocations for general, substitutable, and strongly substitutable preferences. Apart from obtaining "set inclusion...
Persistent link: https://www.econbiz.de/10005077714
Abstract We consider multiple-type housing markets. To capture the dynamic aspect of trade in such markets, we study a dynamic recontracting process similar to the one introduced by Serrano and Volij (2008). First, we analyze the set of recurrent classes of this process as a (non-empty) solution...
Persistent link: https://www.econbiz.de/10008870879
In the context of resource allocation on the basis of priorities, Ergin (2002) identifies a necessary and sufficient condition on the priority structure such that the student-optimal stable mechanism satisfies a consistency principle. Ergin (2002) formulates consistency as a local property based...
Persistent link: https://www.econbiz.de/10011065421
We show that the full version of the so-called ‘rural hospital theorem’ generalizes to many-to-many matching problems where agents on both sides of the problem have substitutable and weakly separable preferences. We reinforce our result by showing that when agents’ preferences satisfy...
Persistent link: https://www.econbiz.de/10011065413
Persistent link: https://www.econbiz.de/10005216783
We consider the generalization of Shapley and Scarf's (1974) [Shapley, L., Scarf's, H., 1974. On cores and indivisibility. Journal of Mathematical Economics 1, 23-37.] model of trading indivisible objects (houses) to so-called multiple-type housing markets. We show that the prominent solution...
Persistent link: https://www.econbiz.de/10005388396