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In this paper we investigate some new applications of Scarf's Lemma. First, we introduce the notion of fractional core … interpretation of these results for matching games. Finally we consider an even more general setting where players' contributions in … in many practical applications, such as NRMP (National Resident Matching Program). …
Persistent link: https://www.econbiz.de/10010693804
We present a classification of all stationary subgame perfect equilibria of the random proposer model for a three-person cooperative game according to the level of efficiency. The efficiency level is characterized by the number of "central" players who join all equilibrium coalitions. The...
Persistent link: https://www.econbiz.de/10010584377
We formulate a notion of stable outcomes in matching problems with one-sided asymmetric information. The key conceptual …
Persistent link: https://www.econbiz.de/10010670654
One-sided assignment problems combine important features of two well-known matching models. First, as in roommate … problems, any two agents can be matched and second, as in two-sided assignment problems, the payoffs of a matching can be … with a non-empty core), if a subsolution of the core satisfies [indifference with respect to dummy agents, continuity, and …
Persistent link: https://www.econbiz.de/10005004550
A large literature uses matching models to analyze markets with two-sided heterogeneity, studying problems such as the … matching of students to schools, residents to hospitals, husbands to wives, and workers to firms. The analysis typically … assumes that the agents have complete information, and examines core outcomes. We formulate a notion of stable outcomes in …
Persistent link: https://www.econbiz.de/10010686932
We formulate a notion of stable outcomes in matching problems with one-sided asymmetric information. The key conceptual …
Persistent link: https://www.econbiz.de/10010587848
We introduce a matching model in which agents engage in joint ventures via multilateral contracts. This approach allows … us to consider production complementarities previously outside the scope of matching theory. We show analogues of the … equilibria exist, correspond to stable outcomes, and yield core outcomes. Competitive equilibria exist in our setting even when …
Persistent link: https://www.econbiz.de/10011189755
study of value theory and core theory. These two theories are the key to solving problems involving the allocation of goods …, such as the exploration of stable solutions for matching and exchange, the measurement of power and a deeper understanding …
Persistent link: https://www.econbiz.de/10011141073
A large literature uses matching models to analyze markets with two-sided heterogeneity, studying problems such as the … matching of students to schools, residents to hospitals, husbands to wives, and workers to firms. The analysis typically … assumes that the agents have complete information, and examines core outcomes. We formulate a notion of stable outcomes in …
Persistent link: https://www.econbiz.de/10010568127
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