A graph theoretic approach to markets for indivisible goods

A graph theoretic approach to markets for indivisible goods

Many important markets, such as the labor market and the housing market, involve goods that are both indivisible and of budgetary significance. We introduce new graph theoretic objects ideally suited to analyzing such markets. We show that the minimum equilibrium price is characterized by a certain...

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Veröffentlicht in:Journal of mathematical economics 2014-05, Vol.52, p.112-122
Hauptverfasser: Caplin, Andrew, Leahy, John
Format: Artikel
Sprache:eng
Schlagworte:
Budget economics
Competitive equilibrium
Economic equilibrium
Graph theory
Housing
Indivisibilities
Labor market
Labour market
Market prices
Mathematical economics
NTU
Price theory
Studies
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Zusammenfassung:Many important markets, such as the labor market and the housing market, involve goods that are both indivisible and of budgetary significance. We introduce new graph theoretic objects ideally suited to analyzing such markets. We show that the minimum equilibrium price is characterized by a certain optimization problem on these graph theoretic objects.
ISSN:0304-4068
1873-1538
DOI:10.1016/j.jmateco.2014.03.011