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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
In recent years, the government, of African Countries has assumed major responsibilities for economic reforms and growth. In attempting to describe their economies, economists (policymakers) in many African Countries have applied certain models that are by now widely known: Linear programming...
Persistent link: https://www.econbiz.de/10015229769
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
the core. The connection is strengthened by establishing that a market allocation, which is in the core, can always be …
Persistent link: https://www.econbiz.de/10014075436
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
The program evaluation review technique (PERT) is a tool used to schedule and coordinate activities in a complex project. In assigning the cost of a potential delay, we characterize the Shapley rule as the only rule that satisfies consistency and other desirable properties.
Persistent link: https://www.econbiz.de/10015250517
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