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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)

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://128.118.178.162/eps/game/papers/0511/0511008.pdf
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Bibliographic 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://128.118.178.162

Related research

Keywords: profit maximization; market equilibrium; manipulation via endowments;

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References

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  1. Gale, David, 1974. "Exchange equilibrium and coalitions : An example," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 63-66, March.
  2. Postlewaite, Andrew, 1979. "Manipulation via Endowments," Review of Economic Studies, Wiley Blackwell, vol. 46(2), pages 255-62, April.
  3. 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.
  4. Aumann, R. J. & Peleg, B., 1974. "A note on Gale's example," Journal of Mathematical Economics, Elsevier, vol. 1(2), pages 209-211, August.
  5. Murat Atlamaz & Bettina Klaus, 2007. "Manipulation via Endowments in Exchange Markets with Indivisible Goods," Social Choice and Welfare, Springer, vol. 28(1), pages 1-18, January.
  6. Shapley, Lloyd S. & Shubik, Martin, 1969. "On market games," Journal of Economic Theory, Elsevier, vol. 1(1), pages 9-25, June.
  7. Zaifu YANG & Ning SUN, 2004. "The Max-Convolution Approach to Equilibrium Models with Indivisibilities," Econometric Society 2004 Far Eastern Meetings 564, Econometric Society.
  8. Aditya Goenka & Stefano Matta, 2008. "Manipulation of endowments and sunspot equilibria," Economic Theory, Springer, vol. 36(2), pages 267-282, August.
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Cited by:
  1. Somdeb Lahiri, 2005. "Existence of Equilibrium in Discrete Market Games," Game Theory and Information 0512005, EconWPA.
  2. Somdeb Lahiri, 2006. "Existence of Equilibrium for Integer Allocation Problems," Computing in Economics and Finance 2006 8, Society for Computational Economics.
  3. Somdeb Lahiri, 2005. "Consistency and the Competitive Outcome Function," Game Theory and Information 0512002, EconWPA.

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