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 …

This paper studies the core of combined games, obtained by summing two coalitional games. It is shown that the set of … core of the combined game coincides with the sum of the cores of its components. On the other hand, for non-balanced games …, the binary relation associating two component games whose combination has an empty core is not transitive. However, we …

The seminal contribution of Debreu-Scarf (1963) connects the two concepts of core and competitive equilibrium in … exchange economies. In effect, their core-equilibrium equivalence result states that, when the set of economic agents is … replicated, the set of core allocations of the replica economy shrinks to the set of competitive allocations. Florenzano (1989 …

This paper provides a general overview of the literature on the core of an exchange economy with asymmetric information …. Incentive compatibility is emphasized in studying core concepts at the ex ante and interim stage. The analysis includes issues … of non-emptiness of the core as well as core convergence to price equilibrium allocations. …