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A Simple Selling and Buying Procedure

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Author Info
Perez-Castrillo, D.
Sotomayor, M.

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Abstract

For the assignment game, we anlayze the following mechanism: sellers, simultaneously, fix their prices first, then buyers, sequentially, decide which object to buy, if any, among the remaining objects. The first phase of the game determines the potential proces, while the second phase determines the actual matching. We prove that the set of subgame perfect equilibria in pure strategies in the strong sense of the mechanism coincides with the set of sellers' optimal stable outcomes when buyers use maximal strategies.

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Publisher Info
Paper provided by Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) in its series UFAE and IAE Working Papers with number 421.98.

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Length: 23 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:aub:autbar:421.98

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Related research
Keywords: MODELS ; GAMES;

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Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Perry, M. & Rany, P., 1992. "A Non-Cooperative View of Coalition Formation and the Core," UWO Department of Economics Working Papers 9203, University of Western Ontario, Department of Economics.
    Other versions:
  2. Alcalde, Jose & Perez-Castrillo, David & Romero-Medina, Antonio, 1998. "Hiring Procedures to Implement Stable Allocations," Journal of Economic Theory, Elsevier, vol. 82(2), pages 469-480, October. [Downloadable!] (restricted)
    Other versions:
  3. Peraz-Castrillo, J., 1992. "Cooperative Outcomes Through Non-Cooperative Games," UFAE and IAE Working Papers 165.92, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    Other versions:
  4. Alcalde, Jose, 1996. "Implementation of Stable Solutions to Marriage Problems," Journal of Economic Theory, Elsevier, vol. 69(1), pages 240-254, April. [Downloadable!] (restricted)
    Other versions:
  5. Kamecke, U, 1989. "Non-cooperative Matching Games," International Journal of Game Theory, Springer, vol. 18(4), pages 423-31.
  6. Roth, Alvin E., 1984. "Misrepresentation and stability in the marriage problem," Journal of Economic Theory, Elsevier, vol. 34(2), pages 383-387, December. [Downloadable!] (restricted)
  7. Demange, Gabrielle & Gale, David & Sotomayor, Marilda, 1986. "Multi-Item Auctions," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 863-72, August. [Downloadable!] (restricted)
  8. Serrano Roberto, 1995. "A Market to Implement the Core," Journal of Economic Theory, Elsevier, vol. 67(1), pages 285-294, October. [Downloadable!] (restricted)
  9. Alcalde, Jose & Romero-Medina, Antonio, 2000. "Simple Mechanisms to Implement the Core of College Admissions Problems," Games and Economic Behavior, Elsevier, vol. 31(2), pages 294-302, May. [Downloadable!] (restricted)
  10. Kelso, Alexander S, Jr & Crawford, Vincent P, 1982. "Job Matching, Coalition Formation, and Gross Substitutes," Econometrica, Econometric Society, vol. 50(6), pages 1483-1504, November. [Downloadable!] (restricted)
  11. Crawford, Vincent P & Knoer, Elsie Marie, 1981. "Job Matching with Heterogeneous Firms and Workers," Econometrica, Econometric Society, vol. 49(2), pages 437-50, March. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ester Cami?, 2002. "A Generalized Assignment Game," UFAE and IAE Working Papers 514.02, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
  2. Ivan Arribas & Amparo Urbano, 2003. "Nash Equilibria In A Model Of Multiproduct Price Competition: An Assignment Problem," Working Papers. Serie AD 2003-21, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie). [Downloadable!]
    Other versions:
  3. Kaniska Dam & David Perez-Castrillo, 2003. "The Principal-Agent Matching Market," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  4. David Pérez-Castrillo & Marilda Sotomayor, 2003. "A Selling Mechanism," Revista Brasileira de Economia, Graduate School of Economics, Getulio Vargas Foundation (Brazil), vol. 57(4), April. [Downloadable!]
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