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The Evolution of Exchange
Serrano, Roberto; Ben-Shoham, Assaf; Volij, Oscar - Oscar Volij - 2000
Stochastic stability is applied to the problem of exchange. We analyze the stochastic stability of two dynamic trading processes in a simple housing market. In both models traders meet in pairs at random and exchange their houses when trade is mutually beneficial, but occasionally they make...
Persistent link: https://www.econbiz.de/10005741336
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Marginal contributions and externalities in the value
De Clippel, Geoffroy; Serrano, Roberto - 2005
coalition structures, and provide sufficient conditions for efficiency. – externalities ; marginal contributions ; Shapley value …
Persistent link: https://www.econbiz.de/10010318952
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Bargaining, coalitions and externalities: A comment on Maskin
de Clippel, Geoffroy; Serrano, Roberto - 2008
share profits assume or derive the property of efficiency. Yet we argue that players may have an interest to choose with … sufficient conditions for efficiency. …
Persistent link: https://www.econbiz.de/10010284031
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Bargaining, coalitions and externalities : a comment on Maskin
De Clippel, Geoffroy (contributor);  … - 2008
share profits assume or derive the property of efficiency. Yet we argue that players may have an interest to choose with … sufficient conditions for efficiency. -- externalities ; coalition formation ; Shapley value …
Persistent link: https://www.econbiz.de/10003809530
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Bargaining, Coalitions and Externalities : A Comment on Maskin
de Clippel, Geoffroy - 2008
share profits assume or derive the property of efficiency. Yet we argue that players may have an interest to choose with … sufficient conditions for efficiency …
Persistent link: https://www.econbiz.de/10012722554
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Marginal Contributions and Externalities in the Value
de Clippel, Geoffroy; Serrano, Roberto - 2005
marginal contributions and externalities. If one requires efficiency for the grand coalition, we provide several results … concerning extensions of the Shapley value. Using the axioms of efficiency, anonymity, marginality and monotonicity, we provide …
Persistent link: https://www.econbiz.de/10014060563
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Marginal contributions and externalities in the value
Clippel, Geoffroy de; Serrano, Roberto - Instituto de Ciencias Sociales, Instituto Madrileño de … - 2007
coalition structures, and provide sufficient conditions for efficiency. …
Persistent link: https://www.econbiz.de/10005764670
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Bargaining, coalitions and externalities: A comment on Maskin
Clippel, Geoffroy de; Serrano, Roberto - Instituto de Ciencias Sociales, Instituto Madrileño de … - 2008
profits assume or derive the property of efficiency. Yet we argue that players may have an interest to choose with whom to … sufficient conditions for efficiency. …
Persistent link: https://www.econbiz.de/10005002831
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Mistakes in cooperation: The stochastic stability of Edgeworth's recontracting
Serrano, Roberto; Volij, Oscar - 2003
In an exchange economyw ith a finite number of indivisible goods, we analyze a dynamic trading process of coalitional recontracting where agents may make mistakes with small probability. We show first that the recurrent classes of the unperturbed (mistakefree) process consist of (i) all core...
Persistent link: https://www.econbiz.de/10010318892
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Mistakes in Cooperation : The Stochastic Stability of Edgeworth's Recontracting
Serrano, Roberto; Volij, Oscar - 2005
In an exchange economyw ith a finite number of indivisible goods, we analyze a dynamic trading process of coalitional recontracting where agents may make mistakes with small probability. We show first that the recurrent classes of the unperturbed (mistakefree) process consist of (i) all core...
Persistent link: https://www.econbiz.de/10014064875