Stochastic Stability in Assignment Problems

Details

Serval ID
serval:BIB_FEECEFB319F0
Type
Article: article from journal or magazin.
Collection
Publications
Institution
Title
Stochastic Stability in Assignment Problems
Journal
Journal of Mathematical Economics
Author(s)
Klaus B., Newton J.
ISSN
0304-4068
Publication state
Published
Issued date
01/2016
Peer-reviewed
Oui
Volume
62
Pages
62-74
Language
english
Abstract
In a dynamic model of assignment problems, it is shown that small deviations suffice to move between stable outcomes. This result is used to obtain no-selection and almost-no-selection results under the stochastic stability concept for uniform and payoff-dependent errors. There is no-selection of partner or payoff under uniform errors, nor for agents with multiple optimal partners under payoff-dependent errors. There can be selection of payoff for agents with a unique optimal partner under payoff-dependent errors. However, when every agent has a unique optimal partner, almost-no-selection is obtained.
Keywords
Assignment problem, (Core) stability, Decentralization, Stochastic stability
Web of science
Create date
20/11/2015 16:33
Last modification date
20/08/2019 16:29
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