Vidal's library
Title: 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.

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@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