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the consequences of common knowledge of rationality and farsightedness. In a social environment several coalitions may and … show that social rationalizability with mediation does not necessarily satisfy coalitional rationality when the number of …
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rationalizability. The concept aims to identify the consequences of common knowledge of rationality and farsightedness within the … environments and it can be computed by an iterative reduction procedure. We introduce a definition of coalitional rationality for …
Persistent link: https://www.econbiz.de/10014151868
We adopt the largest consistent set defined by Chwe [J. of Econ. Theory 63 (1994), 299-235] to predict which coalition structures are possibly stable when players are farsighted. We also introduce a refinement, the largest cautious consistent set, based on the assumption that players are...
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We adopt the notion of von Neumann-Morgenstern (vNM) farsightedly stable sets to determine which matchings are possibly stable when agents are farsighted in one-to-one matching problems. We provide the characterization of vNM farsightedly stable sets: a set of matchings is a vNM farsightedly...
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We study a model in which heterogeneous agents first form a trading network where link formation is costless. Then, a seller and a buyer are randomly selected among the agents to bargain through a chain of intermediaries. We determine both the trading path and the allocation of the surplus among...
Persistent link: https://www.econbiz.de/10009702239
We study a coordination game on a fixed connected network where players have to choose between two projects. Some players are moderate (i.e. they are ex-ante indifferent between both project) while others are stubborn (i.e. they always choose the same project). Benefits for moderate players are...
Persistent link: https://www.econbiz.de/10012832138
We study stable sets for marriage problems under the assumption that players can be both myopic and farsighted. We introduce the new notion of the myopic-farsighted stable set, which is based on the notion of a myopic-farsighted improving path. A myopic-farsighted stable set is the set of...
Persistent link: https://www.econbiz.de/10012956538