Core and competitive equilibria: An approach from discrete convex analysis

    Research output: Contribution to journalArticle

    2 Citations (Scopus)

    Abstract

    We extend the assignment market (Shapley and Shubik, 1972; Kaneko, 1976, 1982) by utilizing discrete convex analysis. We consider the market in which buyers and sellers trade indivisible commodities for money. Each buyer demands at most one unit of commodity. Each seller produces multiple units of several types of commodities. We make the quasi-linearity assumption on the sellers, but not on the buyers. We assume that the cost function of each seller is M-convex, which is a concept in discrete convex analysis. We prove that the core and the competitive equilibria exist and coincide in our market model.

    Original languageEnglish
    Pages (from-to)1-13
    Number of pages13
    JournalJournal of Mathematical Economics
    Volume66
    DOIs
    Publication statusPublished - 2016 Oct 1

    Fingerprint

    Competitive Equilibrium
    Convex Analysis
    Cost functions
    Indivisible
    Unit
    Market Model
    Linearity
    Cost Function
    Assignment
    Market
    Competitive equilibrium
    Seller
    Convex analysis
    Buyers
    Commodities
    Concepts
    Money

    Keywords

    • Assignment market
    • Competitive equilibrium
    • Core
    • Discrete convex analysis
    • M-convex function

    ASJC Scopus subject areas

    • Economics and Econometrics
    • Applied Mathematics

    Cite this

    Core and competitive equilibria : An approach from discrete convex analysis. / Yokote, Koji.

    In: Journal of Mathematical Economics, Vol. 66, 01.10.2016, p. 1-13.

    Research output: Contribution to journalArticle

    @article{deb48ebc10e44663ba1e4a61e76d4dab,
    title = "Core and competitive equilibria: An approach from discrete convex analysis",
    abstract = "We extend the assignment market (Shapley and Shubik, 1972; Kaneko, 1976, 1982) by utilizing discrete convex analysis. We consider the market in which buyers and sellers trade indivisible commodities for money. Each buyer demands at most one unit of commodity. Each seller produces multiple units of several types of commodities. We make the quasi-linearity assumption on the sellers, but not on the buyers. We assume that the cost function of each seller is M♮-convex, which is a concept in discrete convex analysis. We prove that the core and the competitive equilibria exist and coincide in our market model.",
    keywords = "Assignment market, Competitive equilibrium, Core, Discrete convex analysis, M-convex function",
    author = "Koji Yokote",
    year = "2016",
    month = "10",
    day = "1",
    doi = "10.1016/j.jmateco.2016.06.007",
    language = "English",
    volume = "66",
    pages = "1--13",
    journal = "Journal of Mathematical Economics",
    issn = "0304-4068",
    publisher = "Elsevier",

    }

    TY - JOUR

    T1 - Core and competitive equilibria

    T2 - An approach from discrete convex analysis

    AU - Yokote, Koji

    PY - 2016/10/1

    Y1 - 2016/10/1

    N2 - We extend the assignment market (Shapley and Shubik, 1972; Kaneko, 1976, 1982) by utilizing discrete convex analysis. We consider the market in which buyers and sellers trade indivisible commodities for money. Each buyer demands at most one unit of commodity. Each seller produces multiple units of several types of commodities. We make the quasi-linearity assumption on the sellers, but not on the buyers. We assume that the cost function of each seller is M♮-convex, which is a concept in discrete convex analysis. We prove that the core and the competitive equilibria exist and coincide in our market model.

    AB - We extend the assignment market (Shapley and Shubik, 1972; Kaneko, 1976, 1982) by utilizing discrete convex analysis. We consider the market in which buyers and sellers trade indivisible commodities for money. Each buyer demands at most one unit of commodity. Each seller produces multiple units of several types of commodities. We make the quasi-linearity assumption on the sellers, but not on the buyers. We assume that the cost function of each seller is M♮-convex, which is a concept in discrete convex analysis. We prove that the core and the competitive equilibria exist and coincide in our market model.

    KW - Assignment market

    KW - Competitive equilibrium

    KW - Core

    KW - Discrete convex analysis

    KW - M-convex function

    UR - http://www.scopus.com/inward/record.url?scp=84979752240&partnerID=8YFLogxK

    UR - http://www.scopus.com/inward/citedby.url?scp=84979752240&partnerID=8YFLogxK

    U2 - 10.1016/j.jmateco.2016.06.007

    DO - 10.1016/j.jmateco.2016.06.007

    M3 - Article

    AN - SCOPUS:84979752240

    VL - 66

    SP - 1

    EP - 13

    JO - Journal of Mathematical Economics

    JF - Journal of Mathematical Economics

    SN - 0304-4068

    ER -