On the integration of Shapley–Scarf markets

Rajnish Kumar; Kriti Manocha; Josue Ortega

doi:10.1016/j.jmateco.2022.102637

On the integration of Shapley–Scarf markets

Rajnish Kumar
, Kriti Manocha
, Josue Ortega^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

3 Citations (Scopus)

83 Downloads (Pure)

Abstract

We study the welfare consequences of merging Shapley–Scarf markets. Market integration can lead to large welfare losses and make the vast majority of agents worse-off, but is on average welfare-enhancing and makes all agents better off ex-ante. The number of agents harmed by integration is a minority when all markets are small or agents’ preferences are highly correlated.

Original language	English
Article number	102637
Journal	Journal of Mathematical Economics
DOIs	https://doi.org/10.1016/j.jmateco.2022.102637
Publication status	Published - 10 May 2022

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On the integration of Shapley–Scarf markets
Copyright 2022 Elsevier. This manuscript is distributed under a Creative Commons Attribution-NonCommercial-NoDerivs License (https://creativecommons.org/licenses/by-nc-nd/4.0/), which permits distribution and reproduction for non-commercial purposes, provided the author and source are cited.
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Cite this

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On the integration of Shapley–Scarf markets

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