THE LAW OF SUPPLY IN GAMES, MARKETS AND MATCHING MODELS

In large games with transferable utility, core payoffs satisfy a compa rative statics property: If the proportion of one type of player incre ases, then the core payoff to that type of player decreases (does not increase). Markets with transferable utility satisfy a similar propert y: if the aggregate supply of a commodity increases, its value relativ e to the value of all commodities decreases. In market games, if one t ype of agent becomes more plentiful, his competitive payoff falls, and its decrease is engineered by a decrease in the relative value of his endowment.