Subscribe to the gold package and get unlimited access to Shamra Academy
Register a new userEquivalent Choice Functions and Stable Mechanisms
108
0
0.0
(
0
)
Added by
Jan Christoph Schlegel
Publication date
2018
fields
Economy
and research's language is
English
Authors
Jan Christoph Schlegel
Ask ChatGPT about the research
No Arabic abstract
We study conditions for the existence of stable and group-strategy-proof mechanisms in a many-to-one matching model with contracts if students preferences are monotone in contract terms. We show that equivalence, properly defined, to a choice profile under which contracts are substitutes and the law of aggregate holds is a necessary and sufficient condition for the existence of a stable and group-strategy-proof mechanism. Our result can be interpreted as a (weak) embedding result for choice functions under which contracts are observable substitutes and the observable law of aggregate demand holds.
rate research
Read More
We study how violations of structural assumptions like expected utility and exponential discounting can be connected to reference dependent preferences with set-dependent reference points, even if behavior conforms with these assumptions when the reference is fixed. An axiomatic framework jointly and systematically relaxes general rationality (WARP) and structural assumptions to capture reference dependence across domains. It gives rise to a linear order that determines references points, which in turn determines the preference parameters for a choice problem. This allows us to study risk, time, and social preferences collectively, where seemingly independent anomalies are interconnected through the lens of reference-dependent choice.
We highlight the tension between stability and equality in non transferable utility matching. We consider many to one matchings and refer to the two sides of the market as students and schools. The latter have aligned preferences, which in this context means that a schools utility is the sum of its students utilities. We show that the unique stable allocation displays extreme inequality between matched pairs.
A collective choice problem is a finite set of social alternatives and a finite set of economic agents with vNM utility functions. We associate a public goods economy with each collective choice problem and establish the existence and efficiency of (equal income) Lindahl equilibrium allocations. We interpret collective choice problems as cooperative bargaining problems and define a set-valued solution concept, {it the equitable solution} (ES). We provide axioms that characterize ES and show that ES contains the Nash bargaining solution. Our main result shows that the set of ES payoffs is the same a the set of Lindahl equilibrium payoffs. We consider two applications: in the first, we show that in a large class of matching problems without transfers the set of Lindahl equilibrium payoffs is the same as the set of (equal income) Walrasian equilibrium payoffs. In our second application, we show that in any discrete exchange economy without transfers every Walrasian equilibrium payoff is a Lindahl equilibrium payoff of the corresponding collective choice market. Moreover, for any cooperative bargaining problem, it is possible to define a set of commodities so that the resulting economys utility possibility set is that bargaining problem {it and} the resulting economys set of Walrasian equilibrium payoffs is the same as the set of Lindahl equilibrium payoffs of the corresponding collective choice market.
This is a survey paper on rainbow sets (another name for ``choice functions). The main theme is the distinction between two types of choice functions: those having a large (in the sense of belonging to some specified filter, namely closed up set of sets) image, and those that have a large domain and small image, where ``smallness means belonging to some specified complex (a closed-down set). The paper contains some new results: (1) theorems on scrambl
We provide necessary and sufficient conditions on the preferences of market participants for a unique stable matching in models of two-sided matching with non-transferable utility. We use the process of iterated deletion of unattractive alternatives (IDUA), a formalisation of the reduction procedure in Balinski and Ratier (1997), and we show that an instance of the matching problem possesses a unique stable matching if and only if IDUA collapses each participant preference list to a singleton. (This is in a sense the matching problem analog of a strategic game being dominance solvable.)
Log in to be able to interact and post comments
comments
Fetching comments
Sign in to be able to follow your search criteria
