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The possible exit of the United Kingdom from the European Union will have profound economic and political effects. Here we look at a particular aspect, the power distribution in the Council of the European Union. Since the Lisbon treaty the exit does not require new negotiations as the success...
Persistent link: https://www.econbiz.de/10011944871
The most important rule to determine payments in real-life bankruptcy problems is the proportional rule. Many bankruptcy problems are characterized by network aspects and default may occur as a result of contagion. Indeed, in financial networks with defaulting agents, the values of the agents'...
Persistent link: https://www.econbiz.de/10011944898
We provide a new modus operandi for the computation of the nucleolus in cooperative games with transferable utility … coalitions determine both the core and the nucleolus in monotonic games whenever the core is non-empty. We show how these two … sample computation of the nucleolus of bankruptcy games - the shortest of its kind. …
Persistent link: https://www.econbiz.de/10011444391
We generalize two well-known game-theoretic models by introducing multiple partners matching games, defined by a graph … solution. Previously this result was only known for multiple partners assignment games, which correspond to the case where G is …
Persistent link: https://www.econbiz.de/10011444411
Let us consider a financially constrained leveraged financial firm having some divisions which have invested into some risky assets. Using coherent measures of risk the sum of the capital requirements of the divisions is larger than the capital requirement of the firm itself, there is some...
Persistent link: https://www.econbiz.de/10011444422
Optimal power flow (OPF) problems are focussing on the question how a power transmission network can be operated in the most economic way. The general aim in such scenarios is to optimize generator scheduling in order to meet consumption re-quirements, transmission constraints and to minimize...
Persistent link: https://www.econbiz.de/10011444424
the firm among the creditors and the firm itself. Compared to standard bankruptcy games as studied in the game theory … literature, we introduce the firm as an explicit player and define a new class of transferable utility games called liability … games. Liability games are superadditive, constant sum, partially convex, and partially concave. The core of a liability …
Persistent link: https://www.econbiz.de/10012290246
-firm-buyer games have non-empty core. We show that for these games the core coincides with the classical bargaining set (Davis and …
Persistent link: https://www.econbiz.de/10012290252
In this paper, we study different notions of stability for three-sided assignment games. Since the core may be empty in …
Persistent link: https://www.econbiz.de/10012290253
"externalities", the description of which requires partition function form (PFF) games. In this paper we propose a method to compute …
Persistent link: https://www.econbiz.de/10012290285