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“For example, if I am the agent in a dual agency arrangement, I cannot make suggestions to a buyer about how much to offer, because that’s not fairly representing the seller,” she says.
If all agents have the same lexicographic preferences, then general equilibrium cannot exist because agents will not sell to each other [clarification needed] (as long as price of the less preferred is more than zero). But if the price of the less wanted is zero, then all agents want an infinite amount of the good.
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Then, the second and third items must go to agent 2 - otherwise the next-smallest utility is ε or less; so agent 3 gets only the last item. The maximin-share values of the agents are 0, ε , 1. Therefore, a maximin-share allocation must give agent 3 one of the first three items; some possible utility profiles in this case are (0, 2ε , 1) or ...
The agent-level program can be done in parallel for all agents, so this method scales near-optimally in the number of processors. [ 3 ] The mechanism has been considered for the task of assigning students to courses at the Wharton School of the University of Pennsylvania .
Kilgore estimated that the number of agents could decrease as much as 50% as a result of the NAR settlement, with the remaining agents likely to be "more professional, more efficient agents."
The term "agent" is not to be confused with salesperson or broker. An agent is simply a licensee that has entered into an agency relationship with a client. A broker can also be an agent for a client. It is commonly the firm that has the actual legal relationship with the client through one of their sales staff, be they salespersons or brokers.
The set is a function of the preference relation for this agent, the prices of goods, and the agent's endowment. Assuming the agent cannot have a negative quantity of any good, the demand set can be characterized this way: Define as the number of goods the agent might receive an allocation of.