Labor Time Shared In The Assignment Game Generating New Cooperative And Competitive Structures
AbstractAiming to obtain new characterizations for the concepts of core, cooperative equilibrium and competitive equilibrium, and new correlations among these concepts, we introduce labor time into the assignment game. Two many-to-many matching models are obtained, distinguished by the nature of the agreements - rigid and flexible. An example illustrates that the characteristic function form does not always fully represent the cooperative structure of the two markets. Two different notions of demand correspondence generate distinct sets of competitive equilibrium allocations. The connection between the cooperative structures of both markets and the cooperative and competitive structures of each market is established through five cooperative solution sets proved to be non-empty, distinct and correlated by the set inclusion - one set is a superset of the next: the maximal set is the core; the second one characterizes the cooperative equilibria for the rigid market; the third set characterizes the cooperative equilibria for the flexible market; the other two sets characterize the competitive equilibrium allocations for the two competitive markets.
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Bibliographic InfoPaper provided by University of São Paulo (FEA-USP) in its series Working Papers, Department of Economics with number 2013_02.
Date of creation: 19 Feb 2013
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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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-07-20 (All new papers)
- NEP-GTH-2013-07-20 (Game Theory)
- NEP-HPE-2013-07-20 (History & Philosophy of Economics)
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.:
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