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In this paper, we first give a direct proof of the existence of Edgeworth equilibria for exchange economies with consumption sets which are (possibly) unbounded below. The key assumption is that the individually rational utility set is compact. It is worth noticing that the statement of this...
Persistent link: https://www.econbiz.de/10005630651
The core of an economy consists of those attainable allocations of the economy which no group of agents (coalition) can … "improve upon". This paper presents a concept of core of a production economy with a finite number of agents with asymmetric … core of this economy. The proof is based on a (quasi) fixed point theorem. …
Persistent link: https://www.econbiz.de/10005630656
core coincides with the set of cost-minimized Walras allocations. Because of the indivisibility, the preference …
Persistent link: https://www.econbiz.de/10005227285
. We prove that the strong core coincides with the set of cost-minimized Walras allocations which satisfy both the …
Persistent link: https://www.econbiz.de/10005227288
We provide a result for non-emptiness of the core in NTU games. We use a payoffs-dependent balancedness condition …, based on transfer rate mappings. Going beyond the non-emptiness of standard core, existence of some refined solution is … proved, including specific core allocations and equilibrium-core allocations in parameterized collection of cooperative games …
Persistent link: https://www.econbiz.de/10005118637
Persistent link: https://www.econbiz.de/10011857638
We study two n-player sequential network formation games with externalities. Link formation is tied to simultaneous transfer selection in a Nash demand like game in each period. Players in groups can counterpropose. We give necessary and sufficient conditions for efficiency in terms of cyclical...
Persistent link: https://www.econbiz.de/10010279529
structure and of the definition of the two game theoretical stability notions involved - namely, core stability and internal … coalition nor for most large coalitions, it is nevertheless verified in a weak sense that involves transfers (dubbed "potential … internal stability") for most small coalitions. The reason for this difference is brought to light, namely the differing …
Persistent link: https://www.econbiz.de/10010312250
structure and of the definition of the two game theoretical stability notions involved – namely, core stability and internal … coalition nor for most large coalitions, it is nevertheless verified in a weak sense that involves transfers (dubbed “potential … internal stability”) for most small coalitions. The reason for this difference is brought to light, namely the differing …
Persistent link: https://www.econbiz.de/10005385509
coalitionally stable agreements are achieved via intermediate self-selecting subcoalitions.  The sequence of coalitions forming and …
Persistent link: https://www.econbiz.de/10009393198