Market clearing sealed-bid auctions for non-identical objects with single-unit demands

Detalhes bibliográficos
Autor(a) principal: Sotomayor, Marilda Antonia de Oliveira
Data de Publicação: 1999
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/12344
Resumo: We consider a version of the cooperative buyer-seller market game of Shapley and Shubik (1972). For this market we propose a c1ass of sealed- bid auctions where objects are sold simultaneously at a market c1earing price rule. We ana1yze the strategic games induced by these mechanisms under the complete information approach. We show that these noncooperative games can be regarded as a competitive process for achieving a cooperative outcome: every Nash equilibrium payoff is a core outcome of the cooperative market game. Precise answers can be given to the strategic questions raised.
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spelling Sotomayor, Marilda Antonia de OliveiraEscolas::EPGEFGV2014-11-07T11:41:01Z2014-11-07T11:41:01Z1999-09-09http://hdl.handle.net/10438/12344We consider a version of the cooperative buyer-seller market game of Shapley and Shubik (1972). For this market we propose a c1ass of sealed- bid auctions where objects are sold simultaneously at a market c1earing price rule. We ana1yze the strategic games induced by these mechanisms under the complete information approach. We show that these noncooperative games can be regarded as a competitive process for achieving a cooperative outcome: every Nash equilibrium payoff is a core outcome of the cooperative market game. Precise answers can be given to the strategic questions raised.engEscola de Pós-Graduação em Economia da FGVSeminários de pesquisa econômica da EPGETodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. 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dc.title.eng.fl_str_mv Market clearing sealed-bid auctions for non-identical objects with single-unit demands
title Market clearing sealed-bid auctions for non-identical objects with single-unit demands
spellingShingle Market clearing sealed-bid auctions for non-identical objects with single-unit demands
Sotomayor, Marilda Antonia de Oliveira
Competitive price
Nash equilibrium
Mechanism
Optimal matching
Economia
Economia matemática
Modelos econométricos
title_short Market clearing sealed-bid auctions for non-identical objects with single-unit demands
title_full Market clearing sealed-bid auctions for non-identical objects with single-unit demands
title_fullStr Market clearing sealed-bid auctions for non-identical objects with single-unit demands
title_full_unstemmed Market clearing sealed-bid auctions for non-identical objects with single-unit demands
title_sort Market clearing sealed-bid auctions for non-identical objects with single-unit demands
author Sotomayor, Marilda Antonia de Oliveira
author_facet Sotomayor, Marilda Antonia de Oliveira
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Sotomayor, Marilda Antonia de Oliveira
dc.subject.por.fl_str_mv Competitive price
Nash equilibrium
Mechanism
Optimal matching
topic Competitive price
Nash equilibrium
Mechanism
Optimal matching
Economia
Economia matemática
Modelos econométricos
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Economia matemática
Modelos econométricos
description We consider a version of the cooperative buyer-seller market game of Shapley and Shubik (1972). For this market we propose a c1ass of sealed- bid auctions where objects are sold simultaneously at a market c1earing price rule. We ana1yze the strategic games induced by these mechanisms under the complete information approach. We show that these noncooperative games can be regarded as a competitive process for achieving a cooperative outcome: every Nash equilibrium payoff is a core outcome of the cooperative market game. Precise answers can be given to the strategic questions raised.
publishDate 1999
dc.date.issued.fl_str_mv 1999-09-09
dc.date.accessioned.fl_str_mv 2014-11-07T11:41:01Z
dc.date.available.fl_str_mv 2014-11-07T11:41:01Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/12344
url http://hdl.handle.net/10438/12344
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Seminários de pesquisa econômica da EPGE
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
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