Showing 1 - 10 of 226
This paper considers a resource allocation mechanism that utilizes a profit-maximizing auctioneer/matchmaker in the Kelso–Crawford (1982) (many-to-one) assignment problem. We consider general and simple (individualized price) message spaces for firmsʼ reports following Milgrom (2010). We show...
Persistent link: https://www.econbiz.de/10011049796
This paper takes the idea of coalitional behavior – groups of people occasionally acting together to their mutual benefit – and incorporates it into the framework of evolutionary game theory that underpins the social learning literature. An equilibrium selection criterion is defined which we...
Persistent link: https://www.econbiz.de/10010577245
We consider the “airport problem”, which is concerned with sharing the cost of an airstrip among agents who need airstrips of different lengths. We investigate the implications of two properties, Left-endpoint Subtraction (LS) bilateral consistency and LS converse consistency, in the airport...
Persistent link: https://www.econbiz.de/10011049883
A longstanding criticism of the core is that it is too sensitive to small changes in player numbers, as in a well known … and decreasing over time even with institutions that facilitate collusion and, consistent with core theory, a …
Persistent link: https://www.econbiz.de/10013238103
point in the core and that is more responsive to changes than the well-studied folk solution. The paper shows a sufficient …
Persistent link: https://www.econbiz.de/10010573660
In this paper, we provide three new characterizations of largeness of the core. The first characterization is based on … bases that provide core elements of the game and the bases that provide core elements of the games that are obtained from … base of the grand coalition does not provide a core element of the game, it should not provide a core element of a game …
Persistent link: https://www.econbiz.de/10011049687
Sengupta and Sengupta (1996) study the accessibility of the core of a TU game and show that the core, if non-empty, can … be reached from any non-core allocation via a finite sequence of successive blocks. This paper complements the result by … showing that when the core is empty, a number of non-empty core-extensions, including the least core and the weak least core …
Persistent link: https://www.econbiz.de/10011049717
the same core. We state conditions on matrix entries that ensure that the related assignment games have the same core. We … prove that the set of matrices leading to the same core form a join-semilattice with a finite number of minimal elements and …
Persistent link: https://www.econbiz.de/10011049744
This paper proposes axiomatic foundations of expectation formation rules, by which deviating players anticipate the reaction of external players in a partition function game. The projection rule is the only rule satisfying subset consistency and responsiveness to the original partition of...
Persistent link: https://www.econbiz.de/10011117136
We conduct an experiment in continuous time: every subject can change her links to others and her action in a Hawk–Dove game, which she plays bilaterally with each of her linked partners, at any time. We hypothesize that norms exist regarding who establishes and thus pays for links, and that...
Persistent link: https://www.econbiz.de/10011049851