Uniform-price assignment markets

Uniform{price assignment games are introduced as those assignment mar- kets with the core reduced to a segment. In these games, for all active agents, competitive prices are uniform although products may be non-homogeneous. A characterization in terms of the assignment matrix is given. The only assi...

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Bibliographic Details
Published inIDEAS Working Paper Series from RePEc
Main Authors Marina Nunez Oliva, Carlos Rafels Pallarola
Format Paper
LanguageEnglish
Published St. Louis Federal Reserve Bank of St. Louis 01.01.2005
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Summary:Uniform{price assignment games are introduced as those assignment mar- kets with the core reduced to a segment. In these games, for all active agents, competitive prices are uniform although products may be non-homogeneous. A characterization in terms of the assignment matrix is given. The only assignment markets where all submarkets are uniform are the BAohm{Bawerk horse markets. We prove that for uniform-price assignment games the kernel, or set of symmetrically-pairwise bargained allocations, either coincides with the core or reduces to the nucleolus.