Showing 1 - 10 of 36
This paper proposes axiomatic foundations of expectation formation rules, by which deviating players anticipate the reaction of external players in a partition function game. The projection rule is the only rule satisfying subset consistency and responsiveness to the original partition of...
Persistent link: https://www.econbiz.de/10011117136
In this paper, we provide three new characterizations of largeness of the core. The first characterization is based on … bases that provide core elements of the game and the bases that provide core elements of the games that are obtained from … base of the grand coalition does not provide a core element of the game, it should not provide a core element of a game …
Persistent link: https://www.econbiz.de/10011049687
Sengupta and Sengupta (1996) study the accessibility of the core of a TU game and show that the core, if non-empty, can … be reached from any non-core allocation via a finite sequence of successive blocks. This paper complements the result by … showing that when the core is empty, a number of non-empty core-extensions, including the least core and the weak least core …
Persistent link: https://www.econbiz.de/10011049717
the same core. We state conditions on matrix entries that ensure that the related assignment games have the same core. We … prove that the set of matrices leading to the same core form a join-semilattice with a finite number of minimal elements and …
Persistent link: https://www.econbiz.de/10011049744
This paper considers a resource allocation mechanism that utilizes a profit-maximizing auctioneer/matchmaker in the Kelso–Crawford (1982) (many-to-one) assignment problem. We consider general and simple (individualized price) message spaces for firmsʼ reports following Milgrom (2010). We show...
Persistent link: https://www.econbiz.de/10011049796
point in the core and that is more responsive to changes than the well-studied folk solution. The paper shows a sufficient …
Persistent link: https://www.econbiz.de/10010573660
A longstanding criticism of the core is that it is too sensitive to small changes in player numbers, as in a well known … and decreasing over time even with institutions that facilitate collusion and, consistent with core theory, a …
Persistent link: https://www.econbiz.de/10013238103
core. In this paper a new core concept, the interim sequential core (ISC), is proposed as a solution concept to … with the weak sequential core (WSC) of Habis and Herings (2011) but avoids the myopia implicit in the strong sequential … core (SSC). The three core notions are shown to be related by the subset inclusion ordering. The solution concept is …
Persistent link: https://www.econbiz.de/10011117122
We explore in this paper the axiomatic approach to the problem of sharing the revenue from museum passes. We formalize two models for this problem on the grounds of two different informational bases. In both models, we provide axiomatic rationale for natural rules to solve the problem. We,...
Persistent link: https://www.econbiz.de/10011190613
Users need to connect a pair of target nodes in the network. They share the fixed connection costs of the edge. The system manager elicits target pairs from users, builds the cheapest forest meeting all demands, and choose a cost sharing rule satisfying:
Persistent link: https://www.econbiz.de/10010785189