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This paper studies pillage games (Jordan in J Econ Theory 131.1:26-44, 2006, "Pillage and property"), which are well suited to modelling unstructured power contests. To enable empirical test of pillage games' predictions, it relaxes a symmetry assumption that agents' intrinsic contributions to a...
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We study extinction in a commons problem in which agents have access to capital markets. When the commons grows more quickly than the interest rate, multiple equilibria are found for intermediate commons endowments. In one of these, welfare decreases as the resource becomes more abundant, a `re-...
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Jordan [2006] defined ‘pillage games’, a class of cooperative games whose dominance operator represents a ‘power function’ constrained by monotonicity axioms. In this environment, he proved that stable sets must be finite. We bound their cardinality above by a Ramsey number and show this...
Persistent link: https://www.econbiz.de/10004972103
Jordan [2006, “Pillage and property”, JET] characterises stable sets for three special cases of ‘pillage games’. For anonymous, three agent pillage games we show that: when the core is non-empty, it must take one of five forms; all such pillage games with an empty core represent the same...
Persistent link: https://www.econbiz.de/10005007668
Jordan [2006] defined ‘pillage games’, a class of cooperative games whose dominance operator is represented by a ‘power function’ satisfying coalitional and resource monotonicity axioms. In this environment, he proved that stable sets must be finite. We use graph theory to reinterpret...
Persistent link: https://www.econbiz.de/10005012261