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A Comparison Of The Average Prekernel And The Prekernel

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  • Roberto Serrano

    ()

  • Ken-Ichi Shimomura

    ()

Abstract

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 possibility of bargaining at random against any other player. In the cooperative analysis, we characterize the average prekernel as the unique solution that satisfies a set of Nash-like axioms for two-person games, and versions of average consistency and its converse for multilateral settings

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Paper provided by Universidad Carlos III, Departamento de Economía in its series Economics Working Papers with number we055827.

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Date of creation: Oct 2005
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Handle: RePEc:cte:werepe:we055827

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  1. Peleg, B, 1986. "On the Reduced Game Property and Its Converse," International Journal of Game Theory, Springer, vol. 15(3), pages 187-200.
  2. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
  3. Serrano, Roberto, 1997. "Reinterpreting the Kernel," Journal of Economic Theory, Elsevier, vol. 77(1), pages 58-80, November.
  4. Roberto Serrano & Ken-Ichi Shimomura, 2005. "A Comparison Of The Average Prekernel And The Prekernel," Economics Working Papers we055827, Universidad Carlos III, Departamento de Economía.
  5. Maschler, M & Owen, G, 1989. "The Consistent Shapley Value for Hyperplane Games," International Journal of Game Theory, Springer, vol. 18(4), pages 389-407.
  6. Maschler, Michael, 1992. "The bargaining set, kernel, and nucleolus," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 18, pages 591-667 Elsevier.
  7. Moldovanu, B, 1990. "Stable Bargained Equilibria for Assignment Games without Side Payments," International Journal of Game Theory, Springer, vol. 19(2), pages 171-90.
  8. Nir Dagan & Oscar Volij, 1997. "Bilateral Comparisons and Consistent Fair Division Rules in the Context of Bankruptcy Problems," Economic theory and game theory 004, Nir Dagan.
  9. Nagahisa, Ryo-ichi, 1991. "A local independence condition for characterization of Walrasian allocations rule," Journal of Economic Theory, Elsevier, vol. 54(1), pages 106-123, June.
  10. Thomson, W., 1996. "Consistent Allocation Rules," RCER Working Papers 418, University of Rochester - Center for Economic Research (RCER).
  11. Maschler,Michael Owen,Guillermo & Peleg,Bezalel, 1987. "Paths leadings to the Nash set," Discussion Paper Serie A 135, University of Bonn, Germany.
  12. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  13. Orshan, Gooni & Zarzuelo, Jose M., 2000. "The Bilateral Consistent Prekernel for NTU Games," Games and Economic Behavior, Elsevier, vol. 32(1), pages 67-84, July.
  14. Serrano, Roberto & Shimomura, Ken-Ichi, 1998. "Beyond Nash Bargaining Theory: The Nash Set," Journal of Economic Theory, Elsevier, vol. 83(2), pages 286-307, December.
  15. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
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Cited by:
  1. Bonnisseau, Jean-Marc & Iehlé, Vincent, 2007. "Payoff-dependant Balancedness and Cores," Economics Papers from University Paris Dauphine 123456789/89, Paris Dauphine University.
  2. Vincent Iehlé, 2004. "Transfer Rate Rules and Core Selections in NTU Games," Game Theory and Information 0411001, EconWPA.
  3. Serrano, Roberto & Shimomura, Ken-Ichi, 2006. "A comparison of the average prekernel and the prekernel," Mathematical Social Sciences, Elsevier, vol. 52(3), pages 288-301, December.
  4. Jean-Marc Bonnisseau & Vincent Iehlé, 2007. "Payoff-dependent balancedness and cores (revised version)," UFAE and IAE Working Papers 678.07, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).

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