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We consider a second price auction between bidders with independently and identically distributed valuations, where a … question of core stability of the grand coalition, namely: is there a subset of bidders that prefers forming a small bidding … the grand coalition is not necessarily core stable, as opposed to the zero externality case, where the stability of the …
Persistent link: https://www.econbiz.de/10009211251
allocation of resource and compensations among generations. Fairness is defined by core lower bounds and aspiration upper bounds …. The core lower bounds require that every coalition of generations obtains at least what it could achieve by itself. The …
Persistent link: https://www.econbiz.de/10009322910
Finding a solution concept is one of the central problems in cooperative game theory, and the notion of core is the …, one or several players with all their subordinates. In these situations, the core in its usual formulation may be … unbounded, making its use difficult in practice. We propose a new notion of core, called the restricted core, which imposes …
Persistent link: https://www.econbiz.de/10010605308
Unlike partial equilibrium analysis which study the equilibrium of a particular market under the clause "ceteris paribus" that revenues and prices on the other markets stay approximately unaffected, the ambition of a general equilibrium model is to analyze the simultaneous equilibrium in all...
Persistent link: https://www.econbiz.de/10010750449
important notion in cooperative game theory is the core of the game, as it contains the rational imputations for players. We … propose two definitions for the core of a multichoice game, the first one is called the precore and is a direct generalization … normalization at each level, causing the core to be a convex compact set. We study its properties, introducing balancedness and …
Persistent link: https://www.econbiz.de/10010750467
definition includes as a particular case the classical definition of pure exchange economy. We adapt the core concept to a … coalitional exchange economy, and we show the non-emptiness of the core. Finally, we discuss more general setting where individual …
Persistent link: https://www.econbiz.de/10010750600
finding the core of such games, i.e., theset of additive dominating games. …
Persistent link: https://www.econbiz.de/10010750772
important notion in cooperative game theory is the core of the game, as it contains the rational imputations for players. We … propose two definitions for the core of a multichoice game, the first one is called the precore and is a direct generalization … normalization at each level, causing the core to be a convex closed set. We study its properties, introducing balancedness and …
Persistent link: https://www.econbiz.de/10010750952
Despite the large number of its references, this paper is less a survey than a systematic exposition, in an unifying framework ans assuming convexity as well on the consumption side as on the production side, of the different equilibrium concepts elaborated for studying provision of public...
Persistent link: https://www.econbiz.de/10010750998
In cooperative games, the core is the most popular solution concept, and its properties are well known. In the … subcollection of the power set of the set of players has many implications on the mathematical structure of the core, depending on …
Persistent link: https://www.econbiz.de/10010784108