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Manipulation via Endowments in a Market with Profit Maximizing Agents

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Author Info
Somdeb Lahiri (Institute for Financial Management & Research)

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Abstract

In this paper we show that it is possible to manipulate market equilibria in an economy with profit maximizing agents (or agents with quasi-linear utility functions) by either destroying or withholding ones initial endowments.

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File URL: http://129.3.20.41/eps/game/papers/0511/0511008.pdf
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Publisher Info
Paper provided by EconWPA in its series Game Theory and Information with number 0511008.

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Length: 14 pages
Date of creation: 25 Nov 2005
Date of revision:
Handle: RePEc:wpa:wuwpga:0511008

Note: Type of Document - pdf; pages: 14.
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Web page: http://129.3.20.41

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Related research
Keywords: profit maximization market equilibrium manipulation via endowments

Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

This paper has been announced in the following NEP Reports:

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. Murat Atlamaz & Bettina Klaus, 2003. "Manipulation via Endowments in Exchange Markets with Indivisible Goods," UFAE and IAE Working Papers 598.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
    Other versions:
  2. Gale, David, 1974. "Exchange equilibrium and coalitions : An example," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 63-66, March. [Downloadable!] (restricted)
  3. Shapley, Lloyd S. & Shubik, Martin, 1969. "On market games," Journal of Economic Theory, Elsevier, vol. 1(1), pages 9-25, June. [Downloadable!] (restricted)
  4. Bikhchandani, Sushil & Mamer, John W., 1997. "Competitive Equilibrium in an Exchange Economy with Indivisibilities," Journal of Economic Theory, Elsevier, vol. 74(2), pages 385-413, June. [Downloadable!] (restricted)
  5. Zaifu YANG & Ning SUN, 2004. "The Max-Convolution Approach to Equilibrium Models with Indivisibilities," Econometric Society 2004 Far Eastern Meetings 564, Econometric Society.
  6. Postlewaite, Andrew, 1979. "Manipulation via Endowments," Review of Economic Studies, Blackwell Publishing, vol. 46(2), pages 255-62, April. [Downloadable!] (restricted)
  7. Aumann, R. J. & Peleg, B., 1974. "A note on Gale's example," Journal of Mathematical Economics, Elsevier, vol. 1(2), pages 209-211, August. [Downloadable!] (restricted)
  8. Zaifu Yang, 2001. "A Practical Competitive Market Model for Indivisible Commo," Cowles Foundation Discussion Papers 1317, Cowles Foundation, Yale University. [Downloadable!]
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. Somdeb Lahiri, 2005. "Consistency and the Competitive Outcome Function," Game Theory and Information 0512002, EconWPA. [Downloadable!]
  2. Somdeb Lahiri, 2005. "Existence of Equilibrium in Discrete Market Games," Game Theory and Information 0512005, EconWPA. [Downloadable!]
  3. Somdeb Lahiri, 2006. "Existence of Equilibrium for Integer Allocation Problems," Computing in Economics and Finance 2006 8, Society for Computational Economics. [Downloadable!]
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