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Farsighted stability of the competitive allocations in an exchange economy with indivisible goods

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  • Kawasaki, Ryo

Abstract

The set of competitive allocations in an exchange economy with indivisible goods of Shapley and Scarf (1974) is an important solution concept in the literature. In this paper, we consider a farsighted version of the von Neumann and Morgenstern stable set by using the farsighted approach of Chwe (1994) and by modifying the domination relation defined by Wako (1999) to incorporate farsightedness. We show that there exists a unique farsighted stable set, which coincides with the set of competitive allocations.

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  • Kawasaki, Ryo, 2010. "Farsighted stability of the competitive allocations in an exchange economy with indivisible goods," Mathematical Social Sciences, Elsevier, vol. 59(1), pages 46-52, January.
    • Handle: RePEc:eee:matsoc:v:59:y:2010:i:1:p:46-52
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    1. Alvin E. Roth & Tayfun Sönmez & M. Utku Ünver, 2004. "Kidney Exchange," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(2), pages 457-488.
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    Cited by:

    1. Ata Atay & Ana Mauleon & Vincent Vannetelbosch, 2022. "Limited Farsightedness in Priority-Based Matching," Papers 2212.07427, arXiv.org.
    2. Toshiyuki Hirai, 2018. "Single-payoff farsighted stable sets in strategic games with dominant punishment strategies," International Journal of Game Theory, Springer;Game Theory Society, vol. 47(4), pages 1087-1111, November.
    3. Klaus, Bettina & Bochet, Olivier & Walzl, Markus, 2011. "A dynamic recontracting process for multiple-type housing markets," Journal of Mathematical Economics, Elsevier, vol. 47(1), pages 84-98, January.
    4. Klaus, Bettina & Klijn, Flip & Walzl, Markus, 2010. "Farsighted house allocation," Journal of Mathematical Economics, Elsevier, vol. 46(5), pages 817-824, September.
    5. Kawasaki, Ryo, 2015. "Roth–Postlewaite stability and von Neumann–Morgenstern stability," Journal of Mathematical Economics, Elsevier, vol. 58(C), pages 1-6.

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