Michael Maschler

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We model decision problems faced by the members of societies whose new members are determined by vote. We examine a simple model: the founders and the candidates are fixed, the society operates and holds elections for a fixed number of periods, one vote is sufficient for admission, and voters can support as many candidates as they wish. We show through(More)
In an nontransferable utility (NTU) exchange economy with a continuum of agents, the Mas-Colell bargaining set c oincides with the set of Walrasian equilibria. In this paper, we show that the Mas-Colell bargaining set, as well a s a s m aller bargaining set due to Zhou, may fail to converge to competitive outcomes in large nite NTU exchange economies. and(More)