In this paper it is shown that the core and the bargaining sets of Davis-Maschler and Zhou coincide in a class of …

the discipline. After the presentation of some basic definitions, the focus will be on the core and the Shapley value, two …

This paper deals with a core-equilibrium equivalence in an economy with public goods where preferences of consumers …

. The core predicts a unique and extreme outcome: the entire surplus is split evenly among the buyers when m > n and among … the sellers when m < n; the long side gets nothing. We test this core conjecture in the lab with n + m = 3 or 5 randomly … agreements while trading. Despite frequent attempts to collude and occasional large deviations from the core prediction, we find …

: (i) only eight configurations are possible for the core, which contains at most six allocations; (ii) for each core …

, hence agreements must be stable against both types of deviations. The appropriate extension of the classical core concept …, the Sustainable Core, is defined for this new setup to test the stability of allocations in such a complex environment. A … achieved by choosing an element in the Sustainable Core. …

and Yang (2008) always finds a core allocation in finitely many iterations, thus resulting in a Pareto efficient outcome. …

tails of the income distribution, which might be interpreted as the core and periphery and the low-variance variant the bulk …