On Market Games with Time, Location, and Free Disposal Constraints
نویسندگان
چکیده
We consider direct markets, pure exchange economies in which agents supply their time, when they are subject to location, time, and free disposal constraints. If agents’ entire time endowment has to be devoted to the market (no freedisposal), such economies generate the entire class of TU-games, proving that every TU-game is a market game, and thus generalizing Shapley and Shubik’s (1969) and Garratt and Qin’s (2000) results. Markets in which free-disposal of time is possible (i.e., agents can be idle or devote part of their time to nonmarket activities) generate the class of monotonic TU-games.
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