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We examine a new class of games, which we call social games, where players not only choose strategies but also choose with whom they play. A group of players who are dissatisfied with the play of their current partners can join together and play a new equilibrium. This imposes new refinements on...
Persistent link: https://www.econbiz.de/10005423090
This paper reinterprets the ? -core (Chander and Tulkens (1995, 1997)) and justifies it as well as its prediction that …
Persistent link: https://www.econbiz.de/10011325128
(weak) core, unlike in many-to-one matching markets (Blair, 1988). In this paper, we seek a theoretical foundation for …
Persistent link: https://www.econbiz.de/10011325144
vehicles. Thus, the Nash equilibrium and its degree of efficiency depend on the liability regime. …
Persistent link: https://www.econbiz.de/10010333956
'intuitive' hybrid solution concept, the free-riding-proof core, which is always nonempty but does not necessarily achieve global … efficiency. It is not necessarily true that an equilibrium lobby group is formed by the players with highest willingness …
Persistent link: https://www.econbiz.de/10010270938
In a common value auction in which the information partitions of the bidders are connected, all rings are core … form, in spite of the underlying strategic externalities. A ring is core-stable if the core of this characteristic function …
Persistent link: https://www.econbiz.de/10010272420
coalition forms without delay in equilibrium, expected payoffs must be in the core of the characteristic function game that … of efficiency. …
Persistent link: https://www.econbiz.de/10012705280
models of bargaining, to cooperative game-theoretic notions of the core, or notions of coalition-proofness in noncooperative …
Persistent link: https://www.econbiz.de/10010420285
noncooperative, sequential coalition formation model and show that the set of equilibrium outcomes coincides with the recursive core …, a generalisation of the core to such games. In order to extend past results limited to totally recursive … remaining players: the stability of core payoff configurations is ensured by a combination of the pessimism of players going for …
Persistent link: https://www.econbiz.de/10010494524
We propose positive and normative foundations for the average prekernel of NTU games, and compare them with the existing ones for the prekernel. In our non-cooperative analysis, the average prekernel is understood as the equilibrium payoffs of a game where each player faces the possibility of...
Persistent link: https://www.econbiz.de/10010318958