averse, there is a core imputation given by means of shadow prices on state-dependent claims. Like in finance, a risk can … emphasis on incompleteness. Included is a process of bilateral trade which converges to a price-supported core allocation. …

) coalitional equilibrium, describe a (cooperative) partition form game. A coalition is core-stable if the core of a suitable … possible explanation for cartels' structures (not) observed in practice. -- auctions ; Bayesian game ; collusion ; core …

on the one hand and the core property of an allocation on the other. In particular we show that it is an inhomogeneous … sacrifice") which is derived from the egalitarian-equivalent concept suggested by Moulin (1987). We also develop a simple core … test by which it can be checked whether a given allocation is in the core thus being a possible outcome of a cooperative …

rather than a risk-less pie. Contrary to theory, the comparatively less risk adverse residual claimants benefit the most …

scale such games are quite tractable in analysis, computation, and realization. A core imputation comes in terms of …