Scandinavian Working Papers in Economics

Working Papers,
Lund University, Department of Economics

No 2014:9: A Method for Finding the Maximal Set in Excess Demand

Tommy Andersson (), Albin Erlanson (), Jens Gudmundsson (), Helga Habis (), Jim Ingebretsen Carlson () and Jörgen Kratz ()
Additional contact information
Tommy Andersson: Department of Economics, Lund University, Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund, Sweden
Albin Erlanson: Department of Economics, Lund University, Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund, Sweden
Jens Gudmundsson: Department of Economics, Lund University, Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund, Sweden
Helga Habis: Department of Economics, Lund University, Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund, Sweden
Jim Ingebretsen Carlson: Department of Economics, Lund University, Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund, Sweden
Jörgen Kratz: Department of Economics, Lund University, Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund, Sweden

Abstract: We present a polynomial time method for identifying the maximal set in excess demand at a given payoff vector. This set can be used in "large" partnership formation problems to identify the minimum element in the set of individually rational payoff vectors at which there is no overdemanded set of agents. This minimum element corresponds to the minimum Walrasian equilibrium price vector in a special case of the partnership formation problem.

Keywords: Partnership formation; polynomial time method; excess demand

JEL-codes: C61; C62

7 pages, March 7, 2014

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WP14_9.pdf PDF-file 

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