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Computation and Incentives of Competitive Equilibria in a Matching Market [chapter]

Ning Chen, Xiaotie Deng
2011 Lecture Notes in Computer Science  
Matching market and its many variants have been an intensively studied problem in Economics and Computer Science.  ...  This talk considers matching markets run by a single seller with an objective of maximizing revenue of the seller, who employs a market equilibrium pricing for allocation.  ...  In a recent work [10] , we develop a concept of incentive ratio, measuring buyers' willingness to manipulate.  ... 
doi:10.1007/978-3-642-24829-0_2 fatcat:7rgn5jf7n5f6npk4p2crqcl4z4

Vindictive bidding in keyword auctions

Yunhong Zhou, Rajan Lukose
2007 Proceedings of the ninth international conference on Electronic commerce - ICEC '07  
And there always exists a PSNE if there is only one pair of vindictive players. Given the set of vindictive bidding pairs, we show how to compute a pure strategy Nash equilibrium (if one exists).  ...  We show that most Nash equilibria (NE) are vulnerable to vindictive bidding and are thus unstable.  ...  We thank Terence Kelly for comments and technical assistance.  ... 
doi:10.1145/1282100.1282130 dblp:conf/ACMicec/ZhouL07 fatcat:mjkdnhgvyze37kgysao7cxtr3a

Chapter 23 Some Results on Anti-Competitive Behavior in Multi-Unit Ascending Price Auctions [chapter]

Katerina Sherstyuk
2008 Handbook of Experimental Economics Results  
selection in settings with multiple (collusive and competitive) equilibria; and behavioral foundations of collusion.  ...  In the absence of strict bid improvement rule, bidders used bid matches to suppress price competition.  ... 
doi:10.1016/s1574-0722(07)00023-6 fatcat:uipzeaxtwfe6hkwxeo6dnq4jju

Competitive Equilibria in Two Sided Matching Markets with Non-transferable Utilities [article]

Saeed Alaei, Kamal Jain, Azarakhsh Malekian
2012 arXiv   pre-print
excluding that agent; thus automatically providing a constructive proof of existence of competitive equilibria in such markets.  ...  We present the first combinatorial characterization of competitive equilibria that relates the utility of each agent at equilibrium to the equilibrium utilities of other agents in a strictly smaller market  ...  and/or comments.  ... 
arXiv:1006.4696v4 fatcat:egf35c66kfdgbcvweudp5rskgm

Existence and computation of matching equilibria

Ahmet Alkan
1989 European Journal of Political Economy  
We give a constructive proof of existence of equilibrium in two-sided matching markets and also show the set of equilibrium prices is pathwise connected.  ...  For piecewise linear preferences, an (optimal assignment type) algorithm based on these results can compute an equilibrium in a finite number of steps and likewise reach the buyer-optimal minimum equilibrium  ...  Introduction In this paper we give a constructive proof of existence of competitive equilibrium in two-sided matching markets.  ... 
doi:10.1016/0176-2680(89)90050-5 fatcat:y4n2tv5v2fchxpum7nz7r5ysgy

Competitive equilibrium in two sided matching markets with general utility functions

Saeed Alaei, Kamal Jain, Azarakhsh Malekian
2011 ACM SIGecom Exchanges  
In this paper, we study the class of competitive equilibria in two sided matching markets with general (non-quasilinear) utility functions.  ...  In this paper, we give the first direct characterization of competitive equilibria in such markets. Our approach is constructive and solely based on induction.  ...  and/or comments.  ... 
doi:10.1145/1998549.1998556 fatcat:ahjzdejnj5hwdas5v2inqa5rky

Two-Sided Matching Based Cooperative Spectrum Sharing

Lin Gao, Lingjie Duan, Jianwei Huang
2017 IEEE Transactions on Mobile Computing  
Cooperative spectrum sharing is a new promising paradigm to provide necessary incentives for both PUs and SUs in dynamic spectrum access.  ...  We analytically show that there may exist multiple market equilibria, among which there is always a unique Pareto-optimal equilibrium for PUs (called PU-Optimal-EQ), in which every PU achieves a utility  ...  Second, in some two-sided matching markets including the one in this paper, there may be an infinite number of market equilibria, and analytically characterizing these market equilibria is challenging.  ... 
doi:10.1109/tmc.2016.2557794 fatcat:7ixu3mxtcnhufigqsvnztbzrqy

Upstream Competition between Vertically Integrated Firms

Marc Bourreau, Johan Hombert, Jerome Pouyet, Nicolas Schutz
2011 Journal of Industrial Economics  
We propose a model of two-tier competition between vertically integrated firms and unintegrated downstream firms.  ...  We show that, even when integrated firms compete in prices to offer a homogeneous input, the Bertrand result may not obtain, and the input may be priced above marginal cost in equilibrium, which is detrimental  ...  To complete the characterization of all the equilibria: The Bertrand outcome is always an equilibrium, and there is an equilibrium with a matching-like outcome a 1 = a 2 > c u on the upstream market when  ... 
doi:10.1111/j.1467-6451.2011.00469.x fatcat:u4vpq4mwcfeubowsh3mhczi254

Mix-and-Match Compatibility in Asymmetric System Markets

Jong-Hee Hahn, Sang-Hyun Kim
2012 Journal of Institutional and Theoretical Economics  
This paper shows that the private incentive for mix-and-match compatibility in system markets diverges from the social planner's incentive if competing suppliers are asymmetric in production cost or product  ...  Also, the market outcome involves socially too much incompatibility in the form of exclusive technological alliances when the market is composed of independent component suppliers.  ...  Work on mix-and-match compatibility in asymmetric system markets is rather scant in the literature.  ... 
doi:10.1628/093245612800933997 fatcat:bua2jbncmvhw3pqlf34jzkbxwi

Shrouding Add-on Information: An Experimental Study

Hans-Theo Normann, Tobias Wenzel
2018 The Scandinavian Journal of Economics  
We explore how competition affects firms' obfuscation strategies in laboratory experiments. Firms sell a base good and an add-on product.  ...  In our experiments, competition matters in that only duopolistic markets are frequently shrouded whereas four-firm markets are not. With repeated interaction, shrouding rates do not increase.  ...  A second treatment variable is the matching scheme: we have markets with random and fixed matching.  ... 
doi:10.1111/sjoe.12319 fatcat:675qj5tvdne3rpiybj4qwosogi

Electronic Markets and Auctions (Dagstuhl Seminar 13461)

Yishay Mansour, Benny Moldovanu, Noam Nisan, Berthold Vöcking, Marc Herbstritt
2014 Dagstuhl Reports  
From the computer science perspective, with the advent of the Internet, there has been a significant amount of work in Algorithmic Game Theory focusing on computational aspects of electronic markets and  ...  The main goal of this seminar was to study topics related to electronic markets and auctions both from the computational perspective and from a game-theoretic and economic one.  ...  We show that optimal competitive auctions match these bounds. We confirm their conjecture and settle a central open problem in the design of digital goods auctions.  ... 
doi:10.4230/dagrep.3.11.58 dblp:journals/dagstuhl-reports/MansourMNV13 fatcat:yvkfyeeezrhhnhckygpqseqwx4

Multiple equilibria model with intrafirm bargaining and matching frictions

Julie Beugnot, Mabel Tidball
2010 Labour Economics  
In this paper, we combine a matching model derived from Pissarides (2000) in the case of large ...rms with monopolistic competition on the product market and the model of intra...rm bargaining à la Stole  ...  Finally, we show how the dynamical properties are altered in the case of multiple equilibria compared to that of a unique equilibrium and illustrate the issues of economic policy design in presence of  ...  Economic policy Now, we compute the e¤ects of a higher degree of competition and higher unemployment bene…ts.  ... 
doi:10.1016/j.labeco.2010.04.010 fatcat:sgnhvr3twrgw7gqlgxzqku3mrm

Two Market Models for Demand Response in Power Networks

Lijun Chen, Na Li, Steven H. Low, John C. Doyle
2010 2010 First IEEE International Conference on Smart Grid Communications  
We characterize the resulting equilibria in competitive as well as oligopolistic markets, and propose distributed demand response algorithms to achieve the equilibria.  ...  In this paper, we consider two abstract market models for designing demand response to match power supply and shape power demand, respectively.  ...  We characterize the resulting equilibria in competitive as well as oligopolistic markets, and propose distributed demand response schemes and algorithms to match electricity supply and to shape electricity  ... 
doi:10.1109/smartgrid.2010.5622076 fatcat:f7v6zrg6wvdlnfzzyzkaeplpcm

Endogenous timing in duopoly: experimental evidence

Miguel A. Fonseca, Wieland Müller, Hans-Theo Normann
2006 International Journal of Game Theory  
The timing game has observable delay, that is, firms announce a production period (one out of two periods) and then they produce in the announced sequence.  ...  With random matching we find that, given the actual experimental behavior in the subgames, subjects play a timing game more akin to a coordination game with two symmetric equilibria rather than the predicted  ...  Acknowledgements We thank an anonymous associate editor and a referee for very helpful comments.  ... 
doi:10.1007/s00182-006-0027-4 fatcat:7dcqefsicfcgpipd4pkleodq2y

Endogenous Timing in Duopoly: Experimental Evidence

Miguel Alexandre Fonseca, Wieland Müller, Hans-Theo Normann
2005 Social Science Research Network  
The timing game has observable delay, that is, firms announce a production period (one out of two periods) and then they produce in the announced sequence.  ...  With random matching we find that, given the actual experimental behavior in the subgames, subjects play a timing game more akin to a coordination game with two symmetric equilibria rather than the predicted  ...  Acknowledgements We thank an anonymous associate editor and a referee for very helpful comments.  ... 
doi:10.2139/ssrn.756326 fatcat:adcsy34lprg2hd2u2lzg7kkxci
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