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main result, we show that the private core and the private Shapley value of an economy with differential information are …
Persistent link: https://www.econbiz.de/10005753202
Collective choice problems on sets in <InlineEquation ID="Equ1"> <EquationSource Format="TEX"> ${\frak R}_+^n$</EquationSource> </InlineEquation> arise naturally in economics. Such problems have been extensively studied both in the theory of revealed preferences (Peters and Wakker, 1991) and in axiomatic bargaining theory under the assumption of convexity. However, our knowledge of...</equationsource></inlineequation>
Persistent link: https://www.econbiz.de/10005753261
We analyze a model of coalitional bidding in which coalitions form endogenously and compete with each other. Since the nature of this competition influences the way in which agents organize themselves into coalitions, our main aim is to characterize the equilibrium coalition structure and the...
Persistent link: https://www.econbiz.de/10005753268
An extremely simple proof of the K-K-M-S Theorem is given involving only Brouwer's fixed point theorem and some elementary calculus. A function is explicitly given such that a fixed point of it yields an intersection point of a balanced collection of sets together with balancing weights....
Persistent link: https://www.econbiz.de/10005753283
A service is produced for a set of agents. The service is binary, each agent either receives service or not, and the total cost of service is a submodular function of the set receiving service. We investigate strategyproof mechanisms that elicit individual willingness to pay, decide who is...
Persistent link: https://www.econbiz.de/10005753323
This paper extends the work of Ray and Vohra [3]. It ascertains which partitions of players will emerge and what actions will these players choose under each partition, when they can sign binding agreements and their actions have externalities. The emphasis, however, is placed on situations with...
Persistent link: https://www.econbiz.de/10005753448
We focus on the private core [19] of an economy with a finite number of agents with differential information, a … continuum of states and an infinite number of commodities. We state a nonemptiness result for the private core and provide a …
Persistent link: https://www.econbiz.de/10005155376
We investigate the existence of consistent rules for the resolution of conflicting claims that generalize the Talmud rule but do not necessarily satisfy equal treatment of equal. The first approach we follow starts from the description of the Talmud rule in the two-claimant case as...
Persistent link: https://www.econbiz.de/10005178700
In this paper, we extend Aumann’s (Ann Stat 4:1236–1239, <CitationRef CitationID="CR1">1976</CitationRef>) probabilistic agreement theorem to situations in which agents’ prior beliefs are represented by a common neo-additive capacity. In particular, we characterize the family of updating rules for neo-additive capacities, which are...</citationref>
Persistent link: https://www.econbiz.de/10010993544
The paper utilizes duality theory to derive an exact representation of the core of a supermodular capacity for finite …
Persistent link: https://www.econbiz.de/10005753259