Abstract: Existing literature regarding the natural hedge potential that arises from combining liabilities with different sensitivities focuses on the optimal liability mix, but does not address the question whether and how changes in the liability mix can be obtained. In the absence of a...

For the class of minimum coloring games (introduced by Deng et al. (1999)) we investigate the existence of population monotonic allocation schemes (introduced by Sprumont (1990)). We show that a minimum coloring game on a graph G has a population monotonic allocation scheme if and only if G is...

The analysis of single-valued solution concepts for coalitional games with transferable utilities has a long tradition. Opposed to most of this literature we will not deal with solution concepts that provide payoffs to the players for the grand coalition only, but we will analyze allocation...

The division of a cake by n players is modeled as a game of timing. We show that such games admit a unique Nash equilibrium.

A basic issue in transboundary fishery management is the new member problem. In this paper we address the problem of allocating the profits between the charter members and the entrants, once the nations concerned have expressed an interest in achieving an agreement.Using game theory we argue...

Norde et al.[Games Econ.Behav. 12 (1996) 219] proved that none of the equilibrium concepts in the literature on equilibrium selection in finite strategic games satisfying existence is consistent.A transition to set-valued solution concepts overcomes the inconsistency problem: there is a...

This paper introduces fixed tree games with repeated players (FRP games) which are a generalization of standard fixed tree games.This generalization consists in allowing players to be located in more than one vertex.As a consequence, these players can choose among several ways of connection with...

AMS classifications: 90D12, 90C05, 90C34.

This paper focuses on new characterizations of convex interval games using the notions of exactness and superadditivity. We also relate big boss interval games with concave interval games and obtain characterizations of big boss interval games in terms of exactness and subadditivity.

In this note we introduce an egalitarian solution, called the dual egalitarian solution, that is the natural counterpart of the egalitarian solution of Dutta and Ray (1989).We prove, among others, that for a convex game the egalitarian solution coincides with the dual egalitarian solution for...