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Persistent link: https://www.econbiz.de/10011342973
, the set of Walrasian payoff vectors of the induced coalition production economy coincides with the core of the balanced … restricted concept of a Walrasian equilibrium enables us to discuss which coalitions are formed in an equilibrium. If the …-jobbing. -- Coalition production economy ; transferable utility game ; core ; Walrasian equilibrium ; Walrasian equilibrium without double …
Persistent link: https://www.econbiz.de/10003964864
over consumption goods, competitive equilibrium allocations exist and belong to the (ex ante incentive) core. Furthermore …, any competitive equilibrium allocation can be viewed as an element of the core of the n-fold replicated economy, for every …
Persistent link: https://www.econbiz.de/10005371093
over consumption goods, competitive equilibrium allocations exist and belong to the (ex ante incentive) core. Furthermore …, any competitive equilibrium allocation can be viewed as an element of the core of the n-fold replicated economy, for every …
Persistent link: https://www.econbiz.de/10010706418
economy. The set of Walrasian payoff vectors for our induced coalition production economy coincides with the inner core of the …
Persistent link: https://www.econbiz.de/10013114027
The present paper provides three different support results for the Nash bargaining solution of $n$-person bargaining games. First, for any bargaining game there is defined a non-cooperative game in strategic form, whose unique Nash equilibrium induces a payoff vector that coincides with the Nash...
Persistent link: https://www.econbiz.de/10014150876
, the set of fuzzy coalitions can be enlarged in order to obtain that every allocation of the core accordingly defined is …-dimensional. It is first showed that the fuzzy core allocations, a concept that goes back to J.-P. Aubin, are in a one …-to-one correspondence with certain core allocations of a continuum economy suitably defined. This result is obtained under convexity of …
Persistent link: https://www.econbiz.de/10014141795
In this paper I investigate the nature of the beliefs which agents must hold (at least implicitly) in order to justify their considering various alternatives, in two distinct settings: the Walrasian model without production (with competitive equilibrium), and the sell-all version of the...
Persistent link: https://www.econbiz.de/10014057698
Persistent link: https://www.econbiz.de/10011857638
This is a review article on Burgstaller's book "Property and Prices" (1995). It is argued that the book misrepresents the common ground and the differences between the classical and the Walrasian approaches to value and distribution, and furthermore that many of the author's claims, e.g. that...
Persistent link: https://www.econbiz.de/10014173633