A Simple Selling and Buying Procedure
نویسندگان
چکیده
For the assignment game, we analyze the following mechanism: sellers, simultaneously, fix their prices first; then buyers, sequentially, decide which object to buy, if any, among the remaining objects. The first phase of the game determines the potential prices, while the second phase determines the actual matching. We prove that the set of subgame perfect equilibria in pure strategies in the strong sense of the mechanism coincides with the set of sellers' optimal stable outcomes when buyers use maximal strategies. That is, the mechanism leads to the maximum equilibrium prices and to an optimal matching. JEL numbers: C78, D78.
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عنوان ژورنال:
- J. Economic Theory
دوره 103 شماره
صفحات -
تاریخ انتشار 2002