A characterisation of trading equilibria in market games

Arbeitspapier

We provide a full characterisation of the set of trading equilibria (in which all goods are traded at a positive price) in a strategic market game (as introduced by Shapley and Shubik),for both the "buy and sell" and the "buy or sell" versions of this model under standard assumptions on the utility functions.We also interpret and illustrate our main equilibrium-characterising condition, using simple examples.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Cardiff Economics Working Papers ; No. E2020/8

Classification and Topics

• Classification: Wirtschaft ; Noncooperative Games ; Auctions
• Subject: strategic market game ; trading equilibrium ; buy and sell ; buy or sell

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Mitra, Manipushpak ; Ray, Indrajit ; Roy, Souvik
• Event: Veröffentlichung
• (who): Cardiff University, Cardiff Business School
• (where): Cardiff
• (when): 2020

Further information

• Handle: http://hdl.handle.net/10419/250318
• Last update: 10.03.2025, 11:42 AM CET