Showing 1 - 10 of 41
This paper is concerned with the question of how to define the core when cooperation takes place in a dynamic setting. The focus is on dynamic cooperative games in which the players face a finite sequence of exogenously specified TU-games. Three different core concepts are presented: the...
Persistent link: https://www.econbiz.de/10005304778
Bargaining problems are considered where the preferences of the bargainers deviate from expected utility but can be modelled according to rank dependent utility theory. Under rank dependent utility two factors influence the risk attitude of a decision maker: the utility function and the...
Persistent link: https://www.econbiz.de/10005304800
Gibbard''s (1973) and Satterthwaite''s (1975) result implies that anonymous surjective social choice functions on more than two alternatives are manipulable. Placing some mild constraints on the number of agents compared to the number of alternatives, we show what the minimal number of...
Persistent link: https://www.econbiz.de/10005304842
We consider the problem of (re)allocating the total endowment of an infinitely divisible commodity among agents with single-peaked preferences and initial endowments. We propose an extension of the so-called uniform rule and show that it is the unique rule satisfying strategy-proofness, Pareto...
Persistent link: https://www.econbiz.de/10005304866
Two-person noncooperative games with finitely many pure strategies and ordinal preferences over pure outcomes are considered, in which probability distributions resulting from mixed strategies are evaluated according to t-degree stochastic dominance. A t-best reply is a strategy that induces a...
Persistent link: https://www.econbiz.de/10005304883
A contingent contract in a transferable utility game under uncertainty specifies an outcome for each possible state. It is assumed that coalitions evaluate these contracts by considering the minimal possible excesses. A main question of the paper concerns the existence and characterization of...
Persistent link: https://www.econbiz.de/10005304910
Dynamic exchange economies with uncertainty are considered in which information is released over infinite time. The strong sequential core of such an economy consists of those consumption processes where no coalition of agents wishes to deviate at any moment for the rest of time. Comparable to...
Persistent link: https://www.econbiz.de/10005304929
Effectivity functions for finitely many players and alternatives are considered. It is shown that every monotonic and superadditive effectivity function can be augmented with equalchance lotteries to a finite lottery model---i.e., an effectivity function that preserves the original effectivity...
Persistent link: https://www.econbiz.de/10005304952
In voting problems where agents have well behaved (Lipschitz continuous) utility functions on a multidimensional space of alternatives, a voting rule is threshold strategy-proof if any agent can only obtain a limited utility gain by not voting for a most preferred alternative,given that the...
Persistent link: https://www.econbiz.de/10005304954
We compare the manipulability of different choice rules by considering the number of manipulable profiles. We establish the minimal number of such profiles for tops-only, anonymous, and surjective choice rules, and show that this number is attained by unanimity rules with status quo.
Persistent link: https://www.econbiz.de/10005304980