and Yang (2008) always finds a core allocation in finitely many iterations, thus resulting in a Pareto efficient outcome. …

the discipline. After the presentation of some basic definitions, the focus will be on the core and the Shapley value, two …

This paper deals with a core-equilibrium equivalence in an economy with public goods where preferences of consumers …

. The core predicts a unique and extreme outcome: the entire surplus is split evenly among the buyers when m > n and among … the sellers when m < n; the long side gets nothing. We test this core conjecture in the lab with n + m = 3 or 5 randomly … agreements while trading. Despite frequent attempts to collude and occasional large deviations from the core prediction, we find …

In this paper it is shown that the core and the bargaining sets of Davis-Maschler and Zhou coincide in a class of …