Search Results - subject:"top dog"

A top dog tale with preference rigidities

Randon, Emanuela; Simmons, Peter J. - 2012

. We show that such Pareto Optima can only be attained as market equilibria if there is a top dog in the initial endowment … distribution who is richer than the other individuals. The most inegalitarian efficient allocation favouring the top dog is … globally stable and is in the core. For endowment distributions with a top dog, the core contains efficient allocations more …

Persistent link: https://www.econbiz.de/10011734317

The Effect of Initial Endowments in Experimental Auctions

Corrigan, Jay R.; Rousu, Matthew C. - Economics Department, Kenyon College - 2006

We report the results of an experiment designed to test whether initial endowments affect value estimates elicited from experimental auctions. Comparing bids for one unit of a good, two units of a good, and a second unit of a good when endowed with the first unit, we find that willingness to pay...

Persistent link: https://www.econbiz.de/10004998544