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A Simple Selling and Buying Procedure

  • Perez-Castrillo, D.
  • Sotomayor, M.

For the assignment game, we anlayze the following mechanism: sellers, simultaneously, fix their prices first, then buyers, sequentially, decide which object to buy, if any, among the remaining objects. The first phase of the game determines the potential proces, while the second phase determines the actual matching. We prove that the set of subgame perfect equilibria in pure strategies in the strong sense of the mechanism coincides with the set of sellers' optimal stable outcomes when buyers use maximal strategies.

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Paper provided by Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) in its series UFAE and IAE Working Papers with number 421.98.

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Length: 23 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:aub:autbar:421.98
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  1. Perry, Motty & Reny, Philip J, 1994. "A Noncooperative View of Coalition Formation and the Core," Econometrica, Econometric Society, vol. 62(4), pages 795-817, July.
  2. José Alcalde Pérez & Antonio Romero-Medina & David Pérez-Castrillo, 1997. "Hiring procedures to implement stable allocations," Working Papers. Serie AD 1997-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. Gabrielle Demange & Gale David & Marilda Sotomayor, 1986. "Multi-Item Auctions," Post-Print halshs-00670982, HAL.
  4. Demange, Gabrielle & Gale, David, 1985. "The Strategy Structure of Two-sided Matching Markets," Econometrica, Econometric Society, vol. 53(4), pages 873-88, July.
  5. Kelso, Alexander S, Jr & Crawford, Vincent P, 1982. "Job Matching, Coalition Formation, and Gross Substitutes," Econometrica, Econometric Society, vol. 50(6), pages 1483-1504, November.
  6. Roth, Alvin E., 1984. "Misrepresentation and stability in the marriage problem," Journal of Economic Theory, Elsevier, vol. 34(2), pages 383-387, December.
  7. Serrano Roberto, 1995. "A Market to Implement the Core," Journal of Economic Theory, Elsevier, vol. 67(1), pages 285-294, October.
  8. Kamecke, U, 1989. "Non-cooperative Matching Games," International Journal of Game Theory, Springer, vol. 18(4), pages 423-31.
  9. Peraz-Castrillo, J., 1992. "Cooperative Outcomes Through Non-Cooperative Games," UFAE and IAE Working Papers 165.92, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  10. Alcalde, Jose & Romero-Medina, Antonio, 2000. "Simple Mechanisms to Implement the Core of College Admissions Problems," Games and Economic Behavior, Elsevier, vol. 31(2), pages 294-302, May.
  11. José Alcalde, 1995. "Implementation of Stable Solutions to Marriage Problems," Working Papers. Serie AD 1995-05, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  12. Crawford, Vincent P & Knoer, Elsie Marie, 1981. "Job Matching with Heterogeneous Firms and Workers," Econometrica, Econometric Society, vol. 49(2), pages 437-50, March.
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