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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...
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a trading network is pairwise stable if and only if it is a core periphery network where the core consists of all weak … sufficient conditions such that core periphery networks are pairwise stable in presence of private information. -- Bargaining …
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Pairwise stability (Jackson and Wolinsky, 1996) is the standard stability concept in network formation. It assumes myopic behavior of the agents in the sense that they do not forecast how others might react to their actions. Assuming that agents are farsighted, related stability concepts have...
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players are farsighted, our concept predicts the set of matchings in the core. When all men are myopic and the top choice of …
Persistent link: https://www.econbiz.de/10011672526
We adopt the largest consistent set defined by Chwe [J. of Econ. Theory 63 (1994), 299-235] to predict which coalition structures are possibly stable when players are farsighted. We also introduce a refinement, the largest cautious consistent set, based on the assumption that players are...
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