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A labor market with heterogeneous firms and workers

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Author Info
Marilda Sotomayor () (Universidade de São Paulo; Departamento de Economia Av. Prof. Luciano Gualberto, 908; Cidade Universitária 05508-900 São Paulo, SP, Brazil)
Abstract

A labor market where firms and workers are heterogeneous and may form more than one partnership is considered. A natural concept of core for such markets, different from the concept used by Thompson (1977), is defined. We show that the core is non-empty and is, in general, strictly greater than Thompson's core. Unlike Thompson, we found several dissimilarities between our model and the well known one-to-one case studied in Shapley and Shubik (1972).

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Publisher Info
Article provided by Springer in its journal International Journal of Game Theory.

Volume (Year): 31 (2003)
Issue (Month): 2 ()
Pages: 269-283
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Handle: RePEc:spr:jogath:v:31:y:2003:i:2:p:269-283

Note: Received April 2001/Revised July 2002
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Keywords: stable payoff; core; optimal stable payoffs.;

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