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In a general model of trading networks with bilateral contracts, we propose a suitably adapted chain stability concept … that plays the same role as pairwise stability in two-sided settings. We show that chain stability is equivalent to … stability if all agents' preferences are jointly fully substitutable and satisfy the Laws of Aggregate Supply and Demand. In the …
Persistent link: https://www.econbiz.de/10013189046
In a general model of trading networks with bilateral contracts, we propose a suitably adapted chain stability concept … that plays the same role as pairwise stability in two-sided settings. We show that chain stability is equivalent to … stability if all agents' preferences are jointly fully substitutable and satisfy the Laws of Aggregate Supply and Demand. In the …
Persistent link: https://www.econbiz.de/10012415626
We introduce a matching model in which agents engage in joint ventures via multilateral contracts. This approach allows us to consider production complementarities previously outside the scope of matching theory. We show analogues of the first and second welfare theorems and, when agents'...
Persistent link: https://www.econbiz.de/10011189755
. Constraining choices increases segregation and affects the stability and efficiency of the final allocation. Remarkably, the …
Persistent link: https://www.econbiz.de/10010279488
. Constraining choices increases segregation and affects the stability and efficiency of the final allocation. Remarkably, the …
Persistent link: https://www.econbiz.de/10005008015
Ostrovsky [10] develops a theory of stability for a model of matching in exogenously given networks. For this model a … generalization of pairwise stability, chain stability, can always be satisfied as long as agents’ preferences satisfy same side … contract with each other are jointly necessary and sufficient for (i) the equivalence of group and chain stability, (ii) the …
Persistent link: https://www.econbiz.de/10010270419
Ostrovsky [10] develops a theory of stability for a model of matching in exogenously given networks. For this model a … generalization of pairwise stability, chain stability, can always be satisfied as long as agents’ preferences satisfy same side … contract with each other are jointly necessary and sufficient for (i) the equivalence of group and chain stability, (ii) the …
Persistent link: https://www.econbiz.de/10003950989
We study stable matchings on exogenously given or endogenously formed bipartite graphs that reflect constraints on matching. The effects of a change of the exogenously given graph (constraints) are investigated. Specifically, we examine to what extent individuals gain or lose from relaxing...
Persistent link: https://www.econbiz.de/10011374193