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The strong sequential core for two-stage economies with a possibly incomplete set of assets in period zero and trade in commodities in period one consists of those goods allocations that are in the classical core and moreover, after realization of the state of nature, in the core of the economy...
Persistent link: https://www.econbiz.de/10005795843
I consider n-person normal form games where the strategy set of every player is a non-empty compact convex subset of Euclidean space, and the payoff function of player i is continuous and concave in player i''s own strategies. No further restrictions (such as multilinearity of the payoff...
Persistent link: https://www.econbiz.de/10005304784
It is well--known that a transferable utility game has a non-empty core if and only if it is balanced. In the class of non-transferable utility games balancedness or the more general pi-balancedness due to Billera (1970) is a sufficient, but not a necessary condition for the core to be...
Persistent link: https://www.econbiz.de/10005304903
The seminal contribution of Debreu-Scarf [4] connects the two concepts of core and competitive equilibrium in exchange economies. In effect, their core-equilibrium equivalence result states that, when the set of economic agents is replicated, the set of core allocations of the replica economy...
Persistent link: https://www.econbiz.de/10005304918
Dynamic exchange economies with uncertainty are considered in which information is released over infinite time. The strong sequential core of such an economy consists of those consumption processes where no coalition of agents wishes to deviate at any moment for the rest of time. Comparable to...
Persistent link: https://www.econbiz.de/10005304929
This note provides a new proof of the non-emptiness of the fuzzy core in a pureexchange economy with finitely many agents. The proof is based on the concept of(Π, β)-balanced core for games without side payments due to Bonnisseau and Iehlé(2003).
Persistent link: https://www.econbiz.de/10005304947
The paper examines bargaining over a one--dimensional set of social states, with a unanimity acceptance rule. We consider a class of delta-equilibria, i.e. subgame perfect equilibria in stationary strategies that are free of coordination failures in the response stage.We show that along any...
Persistent link: https://www.econbiz.de/10005209963
We study a process of bargaining over social outcomes represented by points in theunit interval. The identity of the proposer is determined by a general Markov process and the acceptance of a proposal requires the approval of it by all the players. We show that for every value of the discount...
Persistent link: https://www.econbiz.de/10005219986
We consider n--person normal form games where the strategy set of each player is a non--empty compact convex subset of a Euclidean space, and the payoff function of player i is continuous in joint strategies and continuously differentiable and concave in player i''s strategy. No further...
Persistent link: https://www.econbiz.de/10005219988
Our work contributes to the game-theoretic analysis of bargaining by providing additional non-cooperative support to the well-known Nash bargaining solution. In particular, in the present paper we study a model of non-cooperative multilateral bargaining with a very general proposer selection...
Persistent link: https://www.econbiz.de/10005670213