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A Note On Luenberger'S Zero-Maximum Principle For Core Allocations

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Author Info
JEAN-MICHEL COURTAULT () (L.I.B.R.E., Faculté de Droit et de Sciences Economiques, Université de Franche-Comté, 45 D avenue de l'observatoire, 25030, Besançon cedex, France)
BERTRAND CRETTEZ () (L.I.B.R.E., Université de Franche-Comté, France)
NAILA HAYEK () (L.I.B.R.E., Université de Franche-Comté, and CERMSEM, Université de Paris I, France)

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Abstract

In this note, we state a zero-maximum principle for core allocations, a result which was foreseen by Luenberger (1995). We prove a generalization of the first-zero maximum theorem of Luenberger. Roughly said, an allocation is in the core if for every coalition, the sum of individual benefit functions is non-positive. We also provide some partial converses which give a generalization of the second-zero maximum theorem of Luenberger.

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Publisher Info
Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.

Volume (Year): 09 (2007)
Issue (Month): 03 ()
Pages: 453-460
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Handle: RePEc:wsi:igtrxx:v:09:y:2007:i:03:p:453-460

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Related research
Keywords: Zero-maximum principle; benefit functions; distributable surplus; core; JEL Classification Numbers: D51; JEL Classification Numbers: D61;

Find related papers by JEL classification:
B4 - Schools of Economic Thought and Methodology - - Economic Methodology
C0 - Mathematical and Quantitative Methods - - General
C6 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
D5 - Microeconomics - - General Equilibrium and Disequilibrium
D7 - Microeconomics - - Analysis of Collective Decision-Making
M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics

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