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definitions, as well as the relationship to renegotiation-proof equilibrium. It is possible for repeated matching equilibria to be … completely distinct from renegotiation-proof equilibria, and even to be Pareto inefficient. …
Persistent link: https://www.econbiz.de/10010312355
simultaneously. We propose a decentralized, completely uncoupled learning process in such environments that leads to stable and … sell-side). This simple and intuitive learning process implements core allocations even though agents have no knowledge of …
Persistent link: https://www.econbiz.de/10010313218
We study two n-player sequential network formation games with externalities. Link formation is tied to simultaneous transfer selection in a Nash demand like game in each period. Players in groups can counterpropose. We give necessary and sufficient conditions for efficiency in terms of cyclical...
Persistent link: https://www.econbiz.de/10010279529
We generalise the coalition structure core to partition function games. Our definition relies only on one crucial assumption, namely that there is some internal consistency in the game: residuals of the deviation play a game similar to the initial one, and –whenever this is possible– they...
Persistent link: https://www.econbiz.de/10011335686
The paper proves the existence and uniqueness of a noncooperative steady state in the context of a model of climate change. It also explores the possibility of cooperation and attainment of an optimal steady state. It is shown that the problem is similar to that in the static model (Chander and...
Persistent link: https://www.econbiz.de/10011608804
In this paper we introduce the CLIMNEG World Simulation (CWS) model for simulating cooperative game theoretic aspects of global climate negotiations. The model is derived from the seminal RICE model by Nordhaus and Yang (1996). We first state the necessary conditions that determine optimal...
Persistent link: https://www.econbiz.de/10011608837
Using an updated version of the CWS model (introduced by Eyckmans and Tulkens in Resource and Energy Economics 2003), this paper intends to evaluate with numbers the respective merits of two competing notions of coalition stability in the standard global public goods model as customarily applied...
Persistent link: https://www.econbiz.de/10010312250
We consider a standard coalitional bargaining game where once a coalition forms it exits as in Okada (2011), however, instead of alternating offers, we have simultaneous payoff demands. We focus in the producer game he studies. Each player is chosen with equal probability. If that is the case,...
Persistent link: https://www.econbiz.de/10011307304
This paper proposes a model of multilateral contracting where players are engaged in two parallel interactions: they dynamically form coalitions and play a repeated normal form game with temporary and permanent decisions. This formulation encompasses many economic models with externalities and...
Persistent link: https://www.econbiz.de/10011324948
We examine the formation of networks among a set of players whose payoffs depend on the structure of the network. We focus on games where players may bargain by promising or demanding transfer payments when forming links. We examine several variations of the transfer/bargaining aspect of link...
Persistent link: https://www.econbiz.de/10011324957