Showing 1 - 10 of 44
The second welfare theorem and the core-equivalence theorem have been proved to be fundamental tools for obtaining …
Persistent link: https://www.econbiz.de/10010750925
In finite markets with short-selling, conditions on agents' utilities insuring the existence of efficient allocations and equilibria are by now well understood. In infinite markets, a standard assumption is to assume that the individually rational utility set is compact. Its drawback is that one...
Persistent link: https://www.econbiz.de/10009401085
In this paper, we study the main properties of the strong Berge equilibrium which is also a Pareto efficient (SBPE) and the strong Nash equilibrium (SNE). We prove that any SBPE is also a SNE, we prove also existence theorem of SBPE based on the KyFan inequality. Finally, we also provide a...
Persistent link: https://www.econbiz.de/10008793969
Finding a solution concept is one of the central problems in cooperative game theory, and the notion of core is the … core, reflecting the team structure, and previous attempts are not satisfactory in this respect. We propose a new notion of … core, which imposes efficiency of the allocation at each level of the hierarchy, and answers the problem of sharing …
Persistent link: https://www.econbiz.de/10010738449
We study the structure of unstable local effectivity functions defined for n players and p alternatives. A stability index based on the notion of cycle is introduced. In the particular case of simple games, the stability index is closely related to the Nakamura Number. In general it may be any...
Persistent link: https://www.econbiz.de/10010738469
Despite the large number of its references, this paper is less a survey than a systematic exposition, in an unifying framework and assuming convexity as well on the consumption side as on the production side, of the different equilibrium concepts elaborated for studying provision of public...
Persistent link: https://www.econbiz.de/10010738483
We study the structure of unstable local effectivity functions defined for n players and p alternatives. A stability index based on the notion of cycle is introduced. In the particular case of simple games, the stability index is closely related to the Nakamura Number. In general it may be any...
Persistent link: https://www.econbiz.de/10010738581
Suppose a decision maker (DM) has partial information about certain events of a σ-algebra A belonging to set ε and assesses their likelihood through a capacity v. When is this information probabilistic, i.e. compatible with a probability ? We consider three notions of compatibility with a...
Persistent link: https://www.econbiz.de/10010738629
In cooperative games, the core is the most popular solution concept, and its properties are well known. In the … subcollection of the power set of the set of players has many implications on the mathematical structure of the core, depending on …
Persistent link: https://www.econbiz.de/10010738645
graphs. We study in this perspective the core of games defined on k-regular set systems. We show that the core may be …
Persistent link: https://www.econbiz.de/10010738649