Double Implementation in a Market for Indivisible Goods with a Price Constraint
AbstractI consider the problem of assigning agents to indivisible objects, in which each agent pays a price for his object and all prices sum to a given constant. The objective is to select an assignment-price pair that is envy-free with respect to the agents' true preferences. I propose a simple mechanism whereby agents announce valuations for all objects and an envy-free allocation is selected with respect to these announced preferences. I prove that the proposed mechanism implements both in Nash and strong Nash equilibrium the set of true envy-free allocations.
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Bibliographic InfoPaper provided by Cardiff University, Cardiff Business School, Economics Section in its series Cardiff Economics Working Papers with number E2005/10.
Length: 22 pages
Date of creation: Dec 2005
Date of revision:
Publication status: Published in Games and Economic Behaviour , 62(1), pp. 140-154, January 2008.
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More information through EDIRC
Indivisible Goods; Envy-Freeness; Implementation; Strong Nash Equilibrium;
Other versions of this item:
- Azacis, Helmuts, 2008. "Double implementation in a market for indivisible goods with a price constraint," Games and Economic Behavior, Elsevier, vol. 62(1), pages 140-154, January.
- Helmuts Azacis, 2004. "Double Implementation in a Market for Indivisible Goods with a Price Constraint," UFAE and IAE Working Papers 623.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-12-20 (All new papers)
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