Barter markets, indivisibilities, and Markovian core
نویسندگان
چکیده
We study a general barter market where every agent is endowed with several heterogeneous indivisible items and wishes to exchange. There no medium of exchange like money. Agents have preferences over their interested bundles may acquire items. propose practical sensible solution called Markovian core, generalizing the classical notion core. A core allocation individually rational, Pareto-efficient, stable against any coalition deviation by comparison current assignments instead initial endowments shown be natural outcome decentralized process.
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ژورنال
عنوان ژورنال: Bulletin of Economic Research
سال: 2021
ISSN: ['0307-3378', '1467-8586']
DOI: https://doi.org/10.1111/boer.12279