Cones of Games arising from Market Entry Problems
AbstractMarket entry situations are modelled, where an entrepreneur has to decide for a collection of markets which market to enter and which not. The entrepreneur can improve his prior information by making use of a group of informants, each of them knowing the situation in one or more markets. For such a market entry situation a related cooperative game is introduced, which can be helpful in dealing with the question of how to share the reward of cooperation. The games arising turn out to be elements of the cone of information market games which were introduced for another economic context. This implies that the cooperative solutions of these games have interesting properties. Extra attention is paid to the subcone of information market games arising from market entry situations where for each market only one informant knows the state of the market.
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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2000-44.
Date of creation: 2000
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Web page: http://center.uvt.nl
cooperative games; information market entry; information market games;
Find related papers by JEL classification:
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other
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