The core of an economy consists of those states of the economy which no group of agents (coalition) can "improve upon". A coalition can improve upon a state of the economy if, by using the means available to that group, each member can be made better off. This paper presents the notion of the...

This paper studies convergence and stability properties of Sjostrom's (1994) mechanism, under the assumption that boundedly rational players find their way to equilbrium using monotonic learning dynamics and best-reply dynamics. This mechanism implements most social choice functions in economic...