Stable sets of contracts in two-sided markets
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Publication:6375296
arXiv2108.06786MaRDI QIDQ6375296FDOQ6375296
Authors: Vladimir I. Danilov, G. A. Koshevoy 
Publication date: 15 August 2021
Abstract: We revisit the problem of existence of stable systems of contracts with arbitrary sets of contracts. We show that stable sets of contracts exists if choices of agents satisfy path-independence. We call such choice functions Plott functions. Our proof is based on application of Zorn lemma to a special poset of semi-stable pairs. Moreover, we construct a dynamic process on the poset (generalizing algorithm Gale and Shapley) steady states of which are stable sets. In Appendix we discuss Lehmann hyper-orders and establish a bijection between the set of Lehmann hyper-orders and the set of Plott functions.
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