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markets which change the cash flow risk structure of the merging firms. We propose a solution concept for coalitional games …
Persistent link: https://www.econbiz.de/10005858047
Assume that players strictly rank each other as coalition partners. We propose a procedure whereby they "fall back" on their preferences, yielding internally compatible, or coherent, majority coalition(s), which we call fallback coalitions. If there is more than one fallback coalition, the...
Persistent link: https://www.econbiz.de/10008810998
strategic basins of attraction in static, abstract games of network formation (Page and Wooders, 2008), and build on the seminal … ; Dynamic Stochastic Games of Network Formation ; Equilibrium Markov Process of Network Formation ; Basins of Attraction …
Persistent link: https://www.econbiz.de/10008811035
While most of the literature starting with Shapley and Scarf (1974) have considered a static exchange economy with indivisibilities, this paper studies the dynamics of such an economy. We find that both the dynamics generated by competitive equilibrium and the one generated by weakly dominance...
Persistent link: https://www.econbiz.de/10008811385
Rotation programs are widely used in societies. Some examples are job rotations, rotation schemes in the management of common-pool resources, and rotation procedures in fair division problems. We study rotation programs via the implementation of Pareto efficient social choice rules under...
Persistent link: https://www.econbiz.de/10012519973
This paper studies how the investment in adaptation can influence the participation in an international environmental agreement (IEA) when countries decide in adaptation before they choose their levels of emissions. Two types of agreements are studied, a complete agreement for which countries...
Persistent link: https://www.econbiz.de/10012519985
We study two n-player sequential network formation games with externalities. Link formation is tied to simultaneous …
Persistent link: https://www.econbiz.de/10008780592
We investigate the computational complexity of several decision problems in hedonic coalition formation games and … demonstrate that attaining stability in such games remains NP-hard even when they are additive. Precisely, we prove that when …. -- Additive Preferences ; Coalition Formation ; Computational Complexity ; Hedonic Games ; NP-hard ; NP-complete …
Persistent link: https://www.econbiz.de/10008799165
This paper deals with a core-equilibrium equivalence in an economy with public goods where preferences of consumers display warm glow effects. We demonstrate that provided that each consumer becomes satiated to other consumers provision, it holds that, for a sufficiently large economy, the set...
Persistent link: https://www.econbiz.de/10003827913
In a common value auction in which the information partitions of the bidders are connected, all rings are core-stable. More precisely, the ex ante expected utilities of rings, at the (noncooperative) sophisticated equilibrium proposed by Einy, Haimanko, Orzach and Sela (Journal of Mathematical...
Persistent link: https://www.econbiz.de/10008737094