Herings et al. (2008) proposed a solution concept called the average tree solution for cycle-free graph games. We provide a characterization of the average tree solution for cycle-free graph games. The characteration underlines an important difference, in terms of symmetric treatment of agents,...

We study an economy where a collection of indivisible goods are sold to a set of buyers who want to buy at most one good.We characterize the set of Walrasian equilibrium price vectors in such an economy using sets of overdemanded and underdemanded goods.Further, we give characterizations for the...

Purpose – The purpose of this paper is to study the various modalities of production outsourcing service and compare three different models, namely: standard accounting, theory of constraints (TOC) and linear programming (LP) enhancement of TOC. Design/methodology/approach – This is a...