2015•American Economic Journal MicroeconomicsRequires access

The Core Matchings of Markets with Transfers

Christopher P. Chambers, Federico Echenique

Abstract

We characterize the structure of the set of core matchings of an assignment game (a two-sided market with transfers). Such a set satisfies a property we call consistency. Consistency of a set of matchings states that, for any matching ν, if, for each agent i there exists a matching μ in the set for which μ there μ(i) = ν (i), then ν is in the set. A set of matchings satisfies consistency if and only if there is an assignment game for which all elements of the set maximize the surplus. (JEL C78)

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Key concepts: Core (optical fiber), Set (abstract data type), Consistency (knowledge bases), Matching (statistics), Property (philosophy), Mathematics, Combinatorics, Computer science