Symmetrically multilateral-bargained allocations in multi-sided assignment markets

Oriol Tejada and Carles Rafels
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Carles Rafels: Universitat de Barcelona

No 216, Working Papers in Economics from Universitat de Barcelona. Espai de Recerca en Economia

Abstract: We extend Rochfords (1983) notion of symmetrically pairwise-bargained equilibrium to assignment games with more than two sides. A symmetrically multilateral-bargained (SMB) allocation is a core allocation such that any agent is in equilibrium with respect to a negotiation process among all agents based on what every agent could receive -and use as a threat- in her preferred alternative matching to the optimal matching that is formed. We prove that, for balanced multi-sided assignment games, the set of SMB is always nonempty and that, unlike the two-sided case, it does not coincide in general with the kernel (Davis and Maschler, 1965). We also give an answer to an open question formulated by Rochford (1983) by introducing a kernel-based set that, together with the core, characterizes the set of SMB.

JEL-codes: C71 C78 (search for similar items in EconPapers)
Pages: 0 pages
Date: 2009
New Economics Papers: this item is included in nep-gth
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Journal Article: Symmetrically multilateral-bargained allocations in multi-sided assignment markets (2010)
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