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are currently employed/unemployed. We show that such a process is absorbed into the core with probability one in finite … time. Moreover, within the core, allocations are selected that are characterized by surplus splitting according to a …
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We develop a model of assignment games with pairwise-identitydependent externalities. A concept of conjectural equilibrium is proposed, and the universal conjecture is shown to be the necessary and sufficient condition for the general existence of equilibrium. We then apply the solution concept...
Persistent link: https://www.econbiz.de/10010191642
sell-side). This simple and intuitive learning process implements core allocations even though agents have no knowledge of …
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In this paper we investigate some new applications of Scarf's Lemma. First, we introduce the notion of fractional core …
Persistent link: https://www.econbiz.de/10010494519
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the average rankings of the other types of groups. We show that a core stable coalition structure always exists, provided …
Persistent link: https://www.econbiz.de/10009751376
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