Vidal's libraryTitle: | On cores and indivisibility |
Author: | Lloyd Shapley and Herbert Scarf |
Journal: | Journal of Mathematical Economics |
Volume: | 1 |
Number: | 1 |
Pages: | 23--37 |
Year: | 1974 |
DOI: | 10.1016/0304-4068(74)90033-0 |
Abstract: | An economic model of trading in commodities that are inherently indivisible, like houses, is investigated from a game-theoretic point of view. The concepts of balanced game and core are developed, and a general theorem of Scarf's is applied to prove that the market in question has a nonempty core, that is, at least one outcome that no subset of traders can improve upon. A number of examples are discussed, and the final section reviews a series of other models involving indivisible commodities, with references to the literature. |
Cited by 199 - Google Scholar
@Article{shapley74a,
author = {Lloyd Shapley and Herbert Scarf},
title = {On cores and indivisibility},
journal = {Journal of Mathematical Economics},
year = 1974,
volume = 1,
number = 1,
pages = {23--37},
abstract = {An economic model of trading in commodities that are
inherently indivisible, like houses, is investigated
from a game-theoretic point of view. The concepts of
balanced game and core are developed, and a general
theorem of Scarf's is applied to prove that the
market in question has a nonempty core, that is, at
least one outcome that no subset of traders can
improve upon. A number of examples are discussed,
and the final section reviews a series of other
models involving indivisible commodities, with
references to the literature.},
doi = {10.1016/0304-4068(74)90033-0},
cluster = {8012122590125233647}
}
Last modified: Wed Mar 9 10:13:32 EST 2011