We propose positive and normative foundations for the average prekernel of NTU games, and compare them with the existing ones for the prekernel. In our non-cooperative analysis, the average prekernel is approximated by the set of equilibrium payoffs of a game where each player faces the...

Armchair evidence shows that many industries are made of a few big commercial or manufacturing firms, which are able to affect the market outcome, and of a myriad of small family-run businesses with very few employees, each of which has a negligible impact on the market. Examples can be found in...

On the separable preference domain, voting by committees is the only class of voting rules that satisfy strategy-proofness and unanimity, and dictatorial rules are the only ones that are strategy-proof and Pareto efficient. To fill the gap, we define a sequence of efficiency conditions. We prove...

We propose a nonempty-valued subsolution of the Mas-Colell Bargaining Set on the class of TU games satisfying grand coalition zero-monotonicity, a weaker condition than superadditivity, zero-monotonicity and balancedness. The subsolution is a slight modification of the Shapley-Shubik Quasi-Core....

Armchair evidence shows that many industries are made of a few big commercial or manufacturing firms, which are able to affect the market outcome, and of a myriad of small family-run businesses with very few employees, each of which has a negligible impact on the market. Examples can be found in...

Many industries are made of a few big firms, which are able to manipulate the market outcome, and of a host of small businesses, each of which has a negligible impact on the market. We provide a general equilibrium framework that encapsulates both market structures. Due to the higher toughness...