Characterization of the walrasian equilibria of the assignment model
We study the assignment model where a collection of indivisible goods are sold to a set of buyers who want to buy at most one good. We characterize the extreme and interior points of the set of Walrasian equilibrium price vectors for this model. Our characterizations are in terms of demand sets of buyers. Using these characterizations, we also give a unique characterization of the minimum and the maximum Walrasian equilibrium price vectors. Also, necessary and suncient conditions are given under which the interior of the set of Walrasian equilibrium price vectors is non-empty. Several of the results are derived by interpreting Walrasian equilibrium price vectors as potential functions of an appropriate directed graph.
|Date of creation:||Oct 2008|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.isid.ac.in/~pu/
More information through EDIRC
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.:
- Gul, Faruk & Stacchetti, Ennio, 1999. "Walrasian Equilibrium with Gross Substitutes," Journal of Economic Theory, Elsevier, vol. 87(1), pages 95-124, July.
- Quint, Thomas, 1991. "Characterization of Cores of Assignment Games," International Journal of Game Theory, Springer, vol. 19(4), pages 413-20.
- Peter Cramton, 1998.
Papers of Peter Cramton
98eer, University of Maryland, Department of Economics - Peter Cramton, revised 28 Jul 1998.
- Roth, Alvin E. & Sotomayor, Marilda, 1988. "Interior points in the core of two-sided matching markets," Journal of Economic Theory, Elsevier, vol. 45(1), pages 85-101, June.
- Gul, Faruk & Stacchetti, Ennio, 2000. "The English Auction with Differentiated Commodities," Journal of Economic Theory, Elsevier, vol. 92(1), pages 66-95, May.
- Mishra, Debasis & Parkes, David C., 2009.
"Multi-item Vickrey-Dutch auctions,"
Games and Economic Behavior,
Elsevier, vol. 66(1), pages 326-347, May.
- Debasis Mishra & David C. Parkes, 2007. "Multi-item Vickrey-Dutch auctions," Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers 07-04, Indian Statistical Institute, New Delhi, India.
- 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.
- Edward Clarke, 1971. "Multipart pricing of public goods," Public Choice, Springer, vol. 11(1), pages 17-33, September.
- William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, 03.
- Demange, Gabrielle & Gale, David, 1985. "The Strategy Structure of Two-sided Matching Markets," Econometrica, Econometric Society, vol. 53(4), pages 873-88, July.
- Crawford, Vincent P & Knoer, Elsie Marie, 1981. "Job Matching with Heterogeneous Firms and Workers," Econometrica, Econometric Society, vol. 49(2), pages 437-50, March.
- Sotomayor, Marilda, 2002. "A Simultaneous Descending Bid Auction for Multiple Items and Unitary Demand," Revista Brasileira de Economia, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil), vol. 56(3), July.
- Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-31, July.
- de Vries, Sven & Schummer, James & Vohra, Rakesh V., 2007.
"On ascending Vickrey auctions for heterogeneous objects,"
Journal of Economic Theory,
Elsevier, vol. 132(1), pages 95-118, January.
- Sven de Vries & James Schummer, 2005. "On Ascending Vickrey Auctions for Heterogeneous Objects," 2005 Meeting Papers 389, Society for Economic Dynamics.
- Peter Cramton & John McMillan & Paul Milgrom & Bradley Miller & Bridger Mitchell & Daniel Vincent & Robert Wilson, 1998. "Simultaneous Ascending Auctions with Package Bidding," Papers of Peter Cramton 98cra2, University of Maryland, Department of Economics - Peter Cramton.
- Demange, Gabrielle & Gale, David & Sotomayor, Marilda, 1986. "Multi-Item Auctions," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 863-72, August.
- Leonard, Herman B, 1983. "Elicitation of Honest Preferences for the Assignment of Individuals to Positions," Journal of Political Economy, University of Chicago Press, vol. 91(3), pages 461-79, June.
- Sankaran, Jayaram K., 1994. "On a dynamic auction mechanism for a bilateral assignment problem," Mathematical Social Sciences, Elsevier, vol. 28(2), pages 143-150, October.
When requesting a correction, please mention this item's handle: RePEc:ind:isipdp:08-07. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamprasad M. Pujar)
If references are entirely missing, you can add them using this form.