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In discrete exchange economies with possibly redundant and joint ownership, we propose new core notions in the conventional flavor by regarding endowments as rights to consume or trade with others. Our key idea is to identify self-enforcing coalitions and to redistribute their redundant property...
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distribution of coalitional gains and the dynamics of coalition formation are characterized in four illustrative applications. …
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show the equivalence between the set of pairwise stable matchings and the set of matchings generated by coalition …
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We study hedonic games with heterogeneous player types that reflect her nationality, ethnic background, or skill type. Agents' preferences are dictated by status-seeking where status can be either local or global. The two dimensions of status define the two components of a generalized constant...
Persistent link: https://www.econbiz.de/10014189207
This paper studies an extensive form game of coalition formation with random proposers in games with externalities. It … strong condition, the equilibrium coalition structure is not necessarily efficient. There may be multiple equilibria even in … coalition forms without delay in equilibrium, expected payoffs must be in the core of the characteristic function game that …
Persistent link: https://www.econbiz.de/10012650908
-free manner, when just three natural conditions are satisfied:(C1) A coalition is formed with positive probability if, and only if … coalition distributes the entire surplus among its members.(C3) Members of any coalition are treated symmetrically with respect … to their share expectations when the surplus of this coalition is distributed.Our analysis primarily focuses on the limit …
Persistent link: https://www.econbiz.de/10012936985
We provide a new proof of the non-emptiness of approximate cores of games with many players of a finite number of types. Earlier papers in the literature proceed by showing that, for games with many players, equal-treatment cores of their "balanced cover games", which are non-empty, can be...
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