We study a generalization of Shapley-Scarf's (1974) economy in which multiple types of indivisible goods are traded. We show that many of the distinctive results from the Shapley-Scarf economy do not carry over to this model, even if agents' preferences are strict and can be represented by...

We consider the n-player houseswapping game of Shapley-Scarf (1974), with indfferences in preferences allowed. It is well-known that the strict core of such a game may be empty, single-valued, or multi-valued. We define a condition on such games called "segmentability", which means that the set...

The author considers an exchange model with indivisible goods and a perfectly divisible good, namely, money. This model was presented by M. Quinzii (1984) as an extension of the Shapley-Scarf model without divisible goods. The author proves that the strong core always coincides with the set of...

This paper concludes the study on the modeling of money and financial institutions, which began in Quint and Shubik (2005a and b), and Quint and Shubik (2007). This paper begins by going through some of the one-period models of trade, with and without a banking system, including a new...