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The role of a matchmaker in buyer-vendor interactions

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  • Linyuan L\"u
  • Matus Medo
  • Yi-Cheng Zhang
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    Abstract

    We consider a simple market where a vendor offers multiple variants of a certain product and preferences of both the vendor and potential buyers are heterogeneous and possibly even antagonistic. Optimization of the joint benefit of the vendor and the buyers turns the toy market into a combinatorial matching problem. We compare the optimal solutions found with and without a matchmaker, examine the resulting inequality between the market participants, and study the impact of correlations on the system.

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    File URL: http://arxiv.org/pdf/0902.0504
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    Bibliographic Info

    Paper provided by arXiv.org in its series Papers with number 0902.0504.

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    Date of creation: Feb 2009
    Date of revision: Jul 2009
    Publication status: Published in European Physical Journal B 71, 565-571 (2009)
    Handle: RePEc:arx:papers:0902.0504

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    Cited by:
    1. Liao, Hao & Xiao, Rui & Chen, Duanbing & Medo, Matúš & Zhang, Yi-Cheng, 2014. "Firm competition in a probabilistic framework of consumer choice," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 400(C), pages 47-56.
    2. Tilles, Paulo F.C. & Ferreira, Fernando F. & Francisco, Gerson & Pereira, Carlos de B. & Sarti, Flavia M., 2011. "A Markovian model market—Akerlof’s lemons and the asymmetry of information," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 390(13), pages 2562-2570.

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