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We first observe that two of Maskin's results do not extend beyond three players: we construct a four-player partition function with nonpositive externalities whose unique solution is inefficient, as well as a four-player characteristic function that has a unique efficient solution for each...
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group in comparison to fully decentralized negotiations, particularly if the objectives of the members of the coalition …
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International climate negotiations have been troubled by mutual mistrust. At the same time, a hope seems to prevail …
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We consider an intertemporal game-theoretic framework in which different coalitions interact repeatedly over time. Both the terms of trade and the endogenous cooperation structure arising in this setup are characterized, in a protocol-free manner, when just three natural conditions are...
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