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A hostage with respect to an action of a player is defined here to be an amount ofpayoff that will be placed in the opponent's possession if the player takes the action. Whereas the only Nash equilibrium for a prisoner's dilemma game is mutual defection, it is shown that there are at most two...
Persistent link: https://www.econbiz.de/10005245543
The equivalence of markets and games concerns the relationship between two sorts of structures that appear … fundamentally different -- markets and games. Shapley and Shubik (1969) demonstrates that: (1) games derived from markets with … concave utility functions generate totally balanced games where the players in the game are the participants in the economy …
Persistent link: https://www.econbiz.de/10009328147
Persistent link: https://www.econbiz.de/10005776506
We axiomatize the inner core in a similar way as the one proposed by Aumann (1985)in order to characterize the NTU value.
Persistent link: https://www.econbiz.de/10005779543
We present a new extension of the Shapley value for games with communication structure,only pairwise meetings can occur … selection of smaller unanimity games. …
Persistent link: https://www.econbiz.de/10005779660
We show that any cooperative TU game is the maximum of a finite collection of convex games. This max …-convex decomposition can be refined by using convex games with nonnegative dividends for all coalitions of at least two players. As a … consequence of the above results we show that the class of modular games is a set of generators of the distributive lattice of all …
Persistent link: https://www.econbiz.de/10005138819
We examine a new class of games, which we call social games, where players not only choose strategies but also choose … players in different roles, among other things. We also examine finite repetitions of games where players may choose to … rematch in any period. Some equilibria of fixed-player repeated games cannot be sustained as equilibria in a repeated social …
Persistent link: https://www.econbiz.de/10005062336
The paper considers an extension of the original Shapley and Shubik (1972) two-sided matching problem to the case of multisided matching with transfereable utility. We investigate existence and properties of stable matchings using the approach of cooperative game theory.
Persistent link: https://www.econbiz.de/10005578966
distance of the linear space spanned by all games f o \mu, where \mu is a non-atomic, non-negative finitely additive measure of …
Persistent link: https://www.econbiz.de/10005585331
The aim of this paper is to present a new value of a cooperative game for the case of limited communication between players. The communication system we consider may be represented by a simple graph, that is, only pairwise meetings can occur and some of them are not permitted. An associated game...
Persistent link: https://www.econbiz.de/10005609610