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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/10005012498
Focussing on their analysis of the optimal public goods provision problem, this paper follows the parallel development of equilibrium models and mechanism design after the accommodation of Samuelson's definition of collective goods to the general equilibrium framework. Both paradigms lead to the...
Persistent link: https://www.econbiz.de/10005012508
Focusing on their analysis of the optimal public goods provision problem, this paper follows the parallel development of equilibrium models and mechanism design after the accomodation of Samuelson's definition of collective goods to the general equilibrium framework. Both paradigms lead to the...
Persistent link: https://www.econbiz.de/10008727371
Persistent link: https://www.econbiz.de/10013543855
Persistent link: https://www.econbiz.de/10014253545
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/10005670861
Unlike partial equilibrium analysis which study the equilibrium of a particular market under the clause "ceteris paribus" that revenues and prices on the other markets stay approximately unaffected, the ambition of a general equilibrium model is to analyze the simultaneous equilibrium in all...
Persistent link: https://www.econbiz.de/10005670862
having a nonempty core, and this core is usually considered as the solution of game. Based on the concept of k-additivity, we … define to so-called k-balanced games and the corresponding generalization of core, the k-additive core, whose elements are … corresponding k-additive core is not empty. For the games in the k-additive core, we propose a sharing procedure to get an …
Persistent link: https://www.econbiz.de/10005670867
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/10005025524
An element of the possibly unbounded core of a cooperative game with precedence constraints belongs to its bounded core … if any transfer to a player from any of her subordinates results in payoffs outside the core. The bounded core is the … union of all bounded faces of the core, it is nonempty if the core is nonempty, and it is a continuous correspondence on …
Persistent link: https://www.econbiz.de/10009493567