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Manipulation via Endowments in a Market with Profit Maximizing Agents

Author

Listed:
  • 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.

Suggested Citation

  • Somdeb Lahiri, 2005. "Manipulation via Endowments in a Market with Profit Maximizing Agents," Game Theory and Information 0511008, EconWPA.
  • Handle: RePEc:wpa:wuwpga:0511008
    Note: Type of Document - pdf; pages: 14.
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    File URL: http://econwpa.repec.org/eps/game/papers/0511/0511008.pdf
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    References listed on IDEAS

    as
    1. Murat Atlamaz & Bettina Klaus, 2007. "Manipulation via Endowments in Exchange Markets with Indivisible Goods," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 28(1), pages 1-18, January.
    2. Andrew Postlewaite, 1979. "Manipulation via Endowments," Review of Economic Studies, Oxford University Press, vol. 46(2), pages 255-262.
    3. Zaifu YANG & Ning SUN, 2004. "The Max-Convolution Approach to Equilibrium Models with Indivisibilities," Econometric Society 2004 Far Eastern Meetings 564, Econometric Society.
    4. Shapley, Lloyd S. & Shubik, Martin, 1969. "On market games," Journal of Economic Theory, Elsevier, vol. 1(1), pages 9-25, June.
    5. Aumann, R. J. & Peleg, B., 1974. "A note on Gale's example," Journal of Mathematical Economics, Elsevier, vol. 1(2), pages 209-211, August.
    6. Campbell,Donald E., 1987. "Resource Allocation Mechanisms," Cambridge Books, Cambridge University Press, number 9780521319904, April.
    7. Gale, David, 1974. "Exchange equilibrium and coalitions : An example," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 63-66, March.
    8. Aditya Goenka & Stefano Matta, 2008. "Manipulation of endowments and sunspot equilibria," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 36(2), pages 267-282, August.
    9. 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.
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    Citations

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    Cited by:

    1. Somdeb Lahiri, 2006. "Existence of Equilibrium for Integer Allocation Problems," Economics Bulletin, AccessEcon, vol. 28(14), pages 1.
    2. Somdeb Lahiri, 2005. "Consistency and the Competitive Outcome Function," Game Theory and Information 0512002, EconWPA.
    3. Somdeb Lahiri, 2005. "Existence of Equilibrium in Discrete Market Games," Game Theory and Information 0512005, EconWPA.

    More about this item

    Keywords

    profit maximization; market equilibrium; manipulation via endowments;

    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

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