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Characterization of the Walrasian equilibria of the assignment model

Mishra,D.
; 
Talman,A.J.J.
Abstract
We study the assignment model where a collection of indivisible goods are sold to a set of buyers who want to buy at most one good. We characterize the extreme and interior points of the set of Walrasian equilibrium price vectors for this model. Our characterizations are in terms of demand sets of buyers. Using these characterizations, we also give a unique characterization of the minimum and the maximum Walrasian equilibrium price vectors. Also, necessary and sufficient conditions are given under which the interior of the set ofWalrasian equilibrium price vectors is non-empty. Several of the results are derived by interpreting Walrasian equilibrium price vectors as potential functions of an appropriate directed graph.
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Appeared earlier as CentER DP 2006-84 (rt)
Date
2010
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Tilburg University Research Output Collection
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Mishra, D & Talman, A J J 2010, 'Characterization of the Walrasian equilibria of the assignment model', Journal of Mathematical Economics, vol. 46, no. 1, pp. 6-20.
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https://hdl.handle.net/20.500.14602/52553
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info:eu-repo/semantics/restrictedAccess
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