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which are not members of the coalition. This has been for a long time a disputed issue in the theory of the core of …
Persistent link: https://www.econbiz.de/10005042783
We axiomatize the inner core in a similar way as the one proposed by Aumann (1985) in order to characterize the NTU value.
Persistent link: https://www.econbiz.de/10005043102
For the case of smooth concave exchange economies, we provide a characterization of the inner core as the set of feasible allocations such that no coalition can improve on it, even if coalitions are allowed to use some random plans. For the case of compactly generated games, we discuss Myerson's...
Persistent link: https://www.econbiz.de/10005043153
We propose a single-valued solution that extends both the consistent Shapley value of Maschler and Owen (1989) and Raiffa's discrete bargaining solution to a large class of NTU games. Though not axiomatized, the solution is motivated via the Nash program. In this respect, we follow an approach...
Persistent link: https://www.econbiz.de/10005043165
The validity of Hart (1985)'s axiomatization of the Harsanyi value is shown to depend on the regularity conditions that are imposed on the games. Following this observation, we propose two related axiomatic characterizations, one of the symmetric egalitarian solution (cf. Kalai and Samet (1985))...
Persistent link: https://www.econbiz.de/10005043170
We study Myerson's incomplete information bargaining solution under the assumption of verifiable types. For the case of an informed principal, in which one individual has all the bargaining power, we provide exact characterizations both from the non cooperative and from the cooperative...
Persistent link: https://www.econbiz.de/10005043352
If x is a reasonable agreement in a game V , then so should it remain in the associated game Vx where the coalitions can buy up the cooperation of non-members by 'paying' them according to x. This new stability property called 'Invariance with respect to re-evaluations of coalitional power'...
Persistent link: https://www.econbiz.de/10005043363
that the efficient coalition structure is stable in terms of the coalition formation theory. It is assumed that coalitions …
Persistent link: https://www.econbiz.de/10005043417
In general, analyses of voting power are performed through the notion of a simple voting game (SVG) in which every voter can choose between two options: 'yes' or 'no'. Felsenthal and Machover (1997) introduced the concept of ternary voting games (TVGs) which recognizes abstention alongside. They...
Persistent link: https://www.econbiz.de/10005043436
In a differential information economy with quasi-linear utilities, monetary transfers facilitate the fulfillment of incentive compatibility constraints: the associated ex ante core is generically non-empty. However, we exhibit a wellbehaved exchange economy in which this core is empty, even if...
Persistent link: https://www.econbiz.de/10005043580