Economics Seminar- Ömer Faruk Şahin

KOÇ UNIVERSITY FACULTY OF ADMINISTRATIVE SCIENCES AND ECONOMICS ECONOMICS SEMINAR

Speaker: Ömer Faruk Şahin - Koç University Title: Stable Set and Efficiency in Exchange of Discrete Resources

Date: 15 January 2024- Monday

Location: CASE 127

Time: 15:00-16:30

Abstract: 

A central stability notion for exchange economies with discrete resources is core: no coalition credibly objects the allocation by suggesting an alternative allotment that is better for its members and can be implemented by its members alone (that is, no coalition blocks the allocation). But, the core is in general empty. Our goal is to propose a novel stability notion for this context. We consider an environment where agents foresee that a Pareto inefficient allocation is not plausible since it is blocked by all agents, and therefore, starting from the endowment, they engage in a process of Pareto improving updates. But, only some Pareto improvements are stable:  a (weak) Pareto improvement

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