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An Experiment on the Core∗

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  • Yan, Huibin
  • Friedman, Daniel

Abstract

Each of n ≥ 1 identical buyers (and m ≥ 1 identical sellers) wants to buy (sell) a single unit of an indivisible good. The core predicts a unique and extreme outcome: the entire surplus is split evenly among the buyers when m > n and among the sellers when m

Suggested Citation

  • Yan, Huibin & Friedman, Daniel, 2008. "An Experiment on the Core∗," Santa Cruz Department of Economics, Working Paper Series qt0jq48184, Department of Economics, UC Santa Cruz.
    • Handle: RePEc:cdl:ucscec:qt0jq48184
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    References listed on IDEAS

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    5. Fréchette, Guillaume R. & Kagel, John H. & Lehrer, Steven F., 2003. "Bargaining in Legislatures: An Experimental Investigation of Open versus Closed Amendment Rules," American Political Science Review, Cambridge University Press, vol. 97(2), pages 221-232, May.
    6. Glenn W. Harrison & Michael McKee, 1985. "Monopoly Behavior, Decentralized Regulation, and Contestable Markets: An Experimental Evaluation," RAND Journal of Economics, The RAND Corporation, vol. 16(1), pages 51-69, Spring.
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    Keywords

    core; market; experiment; fairness;
    All these keywords.

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