This paper presents a simple adaptive model of demand adjustment in cooperative games, and analyzes this model in weighted majority games. In the model, a randomly chosen player sets his demand to the highest possible value subject to the demands of other coalitions members being satisfied. This...

Classic "unravelling" theory holds that buyers should treat with maximal scepticism sellers who withhold verifiable information relating to their quality, as buyers infer from such non-disclosure that the seller possesses the lowest possible quality. This study is the first to use a natural...