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having a nonempty core, and this core is usually considered as the solution of game. Based on the concept of k-additivity, we … define to so-called k-balanced games and the corresponding generalization of core, the k-additive core, whose elements are … corresponding k-additive core is not empty. For the games in the k-additive core, we propose a sharing procedure to get an …
Persistent link: https://www.econbiz.de/10005670867
general conditions. They imply that any efficient profile that is approximately achievable must be in the core of the …) an efficient profile can be approximately achieved if and only if it is in the core; and (iii) any achievable profile can …
Persistent link: https://www.econbiz.de/10011686703
general conditions. They imply that any efficient profile that is approximately achievable must be in the core of the …) an efficient profile can be approximately achieved if and only if it is in the core; and (iii) any achievable profile can …
Persistent link: https://www.econbiz.de/10011599486
outside players play their best response noncooperatively, the core is always nonempty when the game has strategic …
Persistent link: https://www.econbiz.de/10011608773
Agent-based Computational Economics (ACE) is the computational study of economic processesmodeled as dynamic systems of interacting agents. This essay discusses the potentialuse of ACE modeling tools for the study of macroeconomic systems. Points are illustratedusing an ACE model of a two-sector...
Persistent link: https://www.econbiz.de/10009360883
Economies are complicated systems encompassing micro behaviors, interaction patterns, and global regularities. Whether partial or general in scope, studies of economic systems must consider how to handle difficult real-world aspects such as asymmetric information, imperfect competition,...
Persistent link: https://www.econbiz.de/10014024389
This paper analyses the decision-making processes of heterogeneous agents, when both individual preferences and group actions are taken into account. Under the assumptions of certain topologies of interactions and assuming cognitive and informational restrictions, an agent-based model is...
Persistent link: https://www.econbiz.de/10012955387
We introduce the framework of parameterized collections of games and provide three nonemptiness of approximate core …
Persistent link: https://www.econbiz.de/10005704727
The "law of scarcity" is that scarceness is rewarded; recall, for example, the diamonds and water paradox. In this paper, furthering research initiated in Kelso and Crawford (1982, Econometrica 50, 1483-1504) for matching models, we demonstrate a law of scarcity for cores and approximate cores of...
Persistent link: https://www.econbiz.de/10005704736
required size of epsilon for non-emptiness of the epsilon-core, the parameters describing the collection of games, and the size …
Persistent link: https://www.econbiz.de/10005704808