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The paper considers a one-to-one matching with contracts model in the presence of price controls. This set-up contains two important streams in the matching literature, those with and those without monetary transfers, as special cases and allows for intermediate cases with some restrictions on...
Persistent link: https://www.econbiz.de/10011307296
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
structure and of the definition of the two game theoretical stability notions involved - namely, core stability and internal … coalition nor for most large coalitions, it is nevertheless verified in a weak sense that involves transfers (dubbed "potential … internal stability") for most small coalitions. The reason for this difference is brought to light, namely the differing …
Persistent link: https://www.econbiz.de/10010312250
sense that a deviating coalition cannot determine the payoffs of those coalitions that are not involved in the deviation …. The minimal (for inclusion) dominant set is non-empty and for a game with a non-empty coalition structure core, the … minimal dominant set returns this core. …
Persistent link: https://www.econbiz.de/10011325084
This paper reinterprets the ? -core (Chander and Tulkens (1995, 1997)) and justifies it as well as its prediction that … the efficient coalition structure is stable in terms of the coalition formation theory. It is assumed that coalitions can … coalitions) and a coalition may deviate if and only if it stands to gain from it. It is then shown that subsequent to a deviation …
Persistent link: https://www.econbiz.de/10011325128
(weak) core, unlike in many-to-one matching markets (Blair, 1988). In this paper, we seek a theoretical foundation for …
Persistent link: https://www.econbiz.de/10011325144
We generalise the coalition structure core to partition function games. Our definition relies only on one crucial … initial one, and –whenever this is possible– they come to a residual core outcome. Deviating players form their optimistic or … pessimistic expectations with this in mind. This leads to a recursive definition of the core. When compared to existing approaches …
Persistent link: https://www.econbiz.de/10011335686
'intuitive' hybrid solution concept, the free-riding-proof core, which is always nonempty but does not necessarily achieve global …
Persistent link: https://www.econbiz.de/10010270938
This paper first establishes a new core theorem using the concept of generated payoffs: the TU (transferable utility …) core is empty if and only if the maximum of generated payoffs (mgp) is greater than the grand coalition's payoff v(N), or … split the payoff, what coalitions to form, and how long each of the coalitions will be formed by rational players in …
Persistent link: https://www.econbiz.de/10010270946
We adopt the notion of von Neumann-Morgenstern farsightedly stable sets to predict which matchings are possibly stable when agents are farsighted in one-to-one matching problems. We provide the characterization of von Neumann-Morgenstern farsightedly stable sets: a set of matchings is a von...
Persistent link: https://www.econbiz.de/10010270949