Competitive Outcomes and the Core of TU Market Games
AbstractWe investigate the relationship between certain subsets of the core for TU market games and competitive payoff vectors of certain markets linked to that game. This can be considered as the case in between the two extreme cases of Shapley and Shubik (1975). They remark already that their result can be extended to any closed convex subset of the core, but they omit the details of the proof which we present here. This more general case is in particular interesting, as the two theorems of Shapley and Shubik (1975) are included as special cases.
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Bibliographic InfoPaper provided by Bielefeld University, Center for Mathematical Economics in its series Working Papers with number 454.
Length: 14 pages
Date of creation: Oct 2011
Date of revision:
Market Games; Competitive Payoffs; Core;
Find related papers by JEL classification:
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
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- Tomoki Inoue, 2010. "Representation of TU games by coalition production economies," Working Papers 430, Bielefeld University, Center for Mathematical Economics.
- Garratt, Rod & Qin, Cheng-Zhong, 2000. "On Market Games When Agents Cannot Be in Two Places at Once," Games and Economic Behavior, Elsevier, vol. 31(2), pages 165-173, May.
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- Qin, Cheng-Zhong, 1993. "A Conjecture of Shapley and Shubik on Competitive Outcomes in the Cores of NTU Market Games," International Journal of Game Theory, Springer, vol. 22(4), pages 335-44.
- Shapley, Lloyd S. & Shubik, Martin, 1969. "On market games," Journal of Economic Theory, Elsevier, vol. 1(1), pages 9-25, June.
- Sonja Brangewitz & Jan-Philip Gamp, 2011. "Competitive Outcomes and the Inner Core of NTU Market Games," Working Papers 449, Bielefeld University, Center for Mathematical Economics.
- Sonja Brangewitz & Jan-Philip Gamp, 2011. "Inner Core, Asymmetric Nash Bargaining Solutions and Competitive Payoffs," Working Papers 453, Bielefeld University, Center for Mathematical Economics.
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