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


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    (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)


    (L.I.B.R.E., Université de Franche-Comté, France)


    (L.I.B.R.E., Université de Franche-Comté, and CERMSEM, Université de Paris I, France)


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

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Cited by:
  1. Raphaël Giraud, 2012. "Money matters: an axiomatic theory of the endowment effect," Economic Theory, Springer, vol. 50(2), pages 303-339, June.
  2. Jean-Michel Courtault & Bertrand Crettez & Naïla Hayek, 2005. "Allais's Trading Process And The Dynamic Evolution of an OLG Markets Economy," Post-Print halshs-00448184, HAL.


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