On the Shapley-Scarf Economy : The Case of Multiple Types of Indivisible Goods ∗

@inproceedings{Konishi2000OnTS,
  title={On the Shapley-Scarf Economy : The Case of Multiple Types of Indivisible Goods ∗},
  author={Hideo Konishi and Thomas Quint and Jun Wako},
  year={2000}
}
We study a generalization of Shapley-Scarf’s (1974) economy in which multiple types of indivisible goods are traded. We show that many of the distinctive results from the Shapley-Scarf economy do not carry over to this model, even if agents’ preferences are strict and can be represented by additively separable utility functions. The core may be empty. The strict core, if nonempty, may be multi-valued, and might not coincide with the set of competitive allocations. Furthermore, there is no… CONTINUE READING
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