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Pairing Games or Markets studied here are the non-two-sided NTU generalization of assignment games. We show that the Equilibrium Set is nonempty, that it is the set of stable allocations or the set of semistable allocations, and that it has several notable structural properties. We also...
Persistent link: https://www.econbiz.de/10010350435
bargaining solution, for games where the worth of all pairwise coalition is less than a third of the grand coalition value; the … Shapley value, for games where the sum of the value created by all pairwise coalitions is greater than the grand coalition … value; or the nucleolus, for games where only the 'natural coalition' among two 'natural partners' creates significant value …
Persistent link: https://www.econbiz.de/10014035050
Persistent link: https://www.econbiz.de/10011525259
multiple majority coalitions (pivotality) or from the relative vote share the agent contributes to a coalition (proportionality …). We distinguish between coalitional commitment, where parties defer distributive bargaining when forming a coalition, and … allocative commitment, where allocations are determined at the point of coalition formation. We show how the timing of commitment …
Persistent link: https://www.econbiz.de/10013241611
The world's first multinational electricity market was formed with the creation of the Nordic power exchange, Nord Pool. We analyze the incentives to undertake transmission network investment in the context of the liberalized Nordic electricity market. Welfare improving investment in a...
Persistent link: https://www.econbiz.de/10011926087
The Hart-and-Mas-Colell bargaining model [Hart and Mas-Colell (2010). “Bargaining and Cooperation in Strategic Form Games.” Journal of the European Economics Association, 8, 7-33], which is based on strategic form games, is a very promising model possessing many beautiful features....
Persistent link: https://www.econbiz.de/10013066306
This paper studies the core of combined games, obtained by summing two coalitional games. It is shown that the set of balanced transferable utility games can be partitioned into equivalence classes of component games to determine whether the core of the combined game coincides with the sum of...
Persistent link: https://www.econbiz.de/10003897554
coalition formation. It allows to make an explicit distinction between within-group and outside-group deviation options. This … the bargaining set containing a minimal winning coalition are characterized. Furthermore, it is shown that the bargaining … set of any homogeneous weighted majority game contains an outcome for which the underlying coalition structure consists of …
Persistent link: https://www.econbiz.de/10012733871
This paper studies the core of combined games, obtained by summing two coalitional games. It is shown that the set of balanced transferable utility games can be partitioned into equivalence classes of component games to determine whether the core of the combined game coincides with the sum of...
Persistent link: https://www.econbiz.de/10012718527
This chapter surveys a sizable and growing literature on coalition formation. We refer to theories in which one or more … payoffs at each date according to the coalition structure prevailing at the time. We use this model to nest two broad … approaches to coalition formation, one based on cooperative game theory, the other based on noncooperative bargaining. Three …
Persistent link: https://www.econbiz.de/10014025454