In Hens (1997), a new adjustment process is proposed for a setting with reopening spot and asset markets. He argues by means of an intemporal variant of Scarf's example that this process is more stable than the other processes, although in general it might be more stable or less stable. This...

Abstract: We introduce a single-valued solution concept, the so-called average covering tree value, for the class of transferable utility games with limited communication structure represented by a directed graph. The solution is the average of the marginal contribution vectors corresponding to...

Cooperative aspects of multiple criteria decision making with respect to cost allocation in a network will be studied.The vector valued costs of a graph that connects a group of geographically scattered users to a common source have to be distributed among the users.Here a specific class of cost...

We consider game theoretic models of social network formation.In this paper we limit our investigation to game theoretic models of network formation that are based on individual actions only.Our approach is based on three simple and realistic principles: (1) Link formation is a binary process of...

Mathematics Subject Classification 2000: 91A12, 91A43

In this paper we study hedonic games where each player views every other player either as a friend or as an enemy.Two simple priority criteria for comparison of coalitions are suggested, and the corresponding preference restrictions based on appreciation of friends and aversion to enemies are...