Hiring procedures to implement stable allocations
AbstractWe implement the core correspondence in Subgame Perfect Equilibrium using a simplesequential mechanism in which firms propose a salary to each worker (in the first stage). Then ,each worker accepts at most one proposal (second stage). Moreover, we show that, if agents'preferences are additive, this mechanism implements in Subgame Perfect Equilibrium that firms'optimal correspondence when firms employ undominated strategies. Finally we construct anothersimple sequential mechanism to implement workers' optimal correspondence when agents'preferences are additive.
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Bibliographic InfoPaper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 1997-10.
Length: 16 pages
Date of creation: Apr 1997
Date of revision:
Publication status: Published by Ivie
Job matching markets; implementation; mechanism design;
Other versions of this item:
- 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 Formulation and Implementation
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