The outcome of competitive equilibrium rules in buyer–seller markets when the agents play strategically

B-Tier
Journal: Economic Theory
Year: 2017
Volume: 64
Issue: 1
Pages: 99-119

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Abstract We analyze the two-stage games induced by competitive equilibrium rules for the buyer–seller market of Shapley and Shubik (Int J Game Theory 1:111–130, 1972). In these procedures, first sellers and then buyers report their valuation and the outcome is determined by a competitive equilibrium outcome for the market reported by the agents. We provide results concerning buyers and sellers’ equilibrium strategies. In particular, our results point out that, by playing first, sellers are able to instigate an outcome that corresponds to the sellers’ optimal competitive equilibrium allocation for the true market.

Technical Details

RePEc Handle
repec:spr:joecth:v:64:y:2017:i:1:d:10.1007_s00199-016-0997-9
Journal Field
Theory
Author Count
2
Added to Database
2026-01-28