We prove that a single-valued solution of nonatomic market games (or the perfectly competitive TU economies underling them) is uniquely determined as the Mertens value by four plausible value related axioms. Since the Mertens value is always in the core of an economy, this result provides an...

This paper studies an exchange economy with a finite number of agents in which each agent is initially endowed with a finite number of (personalized) indivisible commodities. We observe that the core equivalence theorem may not hold for this economy when the coalitional form game is generated in...