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This note provides two necessary and sufficient conditions for the relative interior of the core (and the base … greater than the minimum no-blocking payoff. Such conditions imply an intuitive method in proving core existence, they also … imply results on the sensitivity of the base polyhedron and the core. …
Persistent link: https://www.econbiz.de/10005147364
This paper explores an old solution for bankruptcy problems, described by Ibn Ezra in the XII century. Particularly, we introduce a new way of extending the Ibn Ezra’s proposal, the Generalized Ibn Ezra solution, by imposing that the general distribution principle from which it is inspired...
Persistent link: https://www.econbiz.de/10005370864
games. Furthermore, we show that equal treatment core payoff vectors satisfy a condition of cyclic monotonicity. Our results … core payoff vectors from satisfying a law of scarcity are stated in terms of the parameters describing the games. We note …
Persistent link: https://www.econbiz.de/10005371005
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
communication plans and establish the existence of core strategies for this cooperative game under various regularity conditions. …
Persistent link: https://www.econbiz.de/10005597875
>) core characterizations of a continuum economy may fail in this general informational setting. However, under mild …
Persistent link: https://www.econbiz.de/10010993552
accept/reject certain proposals. The set of equilibrium outcomes is identified as the core if F’s opponents can pre …-commit and as the convex hull of the core if they cannot pre-commit credibly. This extended model eliminates two flaws of the …
Persistent link: https://www.econbiz.de/10010993629
strong sequential core of such an economy consists of those consumption streams that can be improved upon by no coalition at … no moment of time. Non-emptiness of the strong sequential core is established given a high enough discount factor …. Moreover, sufficient conditions are given under which the strong sequential core contains only time and history independent …
Persistent link: https://www.econbiz.de/10005370781
diversification." We show that this implies that the core of the capacity is non-empty. The converse holds under concavity of the … equivalent to non-empty core. In the expected utility model, all these notions of diversification are equivalent and are …
Persistent link: https://www.econbiz.de/10005370819
Persistent link: https://www.econbiz.de/10005370894