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Transferable Utility Games with Uncertainty

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Author Info

  • Helga Habis

    () (Institute of Economics - Hungarian Academy of Sciences)

  • P. Jean-Jacques Herings

    () (Department of Economics, Universiteit Maastricht)

Abstract

We introduce the concept of a TUU-game, a transferable utility game with uncertainty. In a TUU-game there is uncertainty regarding the payoffs of coalitions. One out of a finite number of states of nature materializes and conditional on the state, the players are involved in a particular transferable utility game. We consider the case without ex ante commitment possibilities and propose the Weak Sequential Core as a solution concept. We characterize the Weak Sequential Core and show that it is non-empty if all ex post TUgames are convex.

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Bibliographic Info

Paper provided by Institute of Economics, Hungarian Academy of Sciences in its series IEHAS Discussion Papers with number 1120.

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Length: 25 pages
Date of creation: May 2011
Date of revision:
Handle: RePEc:has:discpr:1120

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Keywords: transferable utility games; uncertainty; Weak Sequential Core;

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  1. Suijs, J.P.M. & Borm, P.E.M. & De Waegenaere, A. & Tijs, S.H., 1995. "Cooperative games with stochastic payoffs," Discussion Paper 1995-88, Tilburg University, Center for Economic Research.
  2. Laurence Kranich & Andrés Perea & Hans Peters, 2005. "Core Concepts For Dynamic Tu Games," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 7(01), pages 43-61.
  3. Rajiv Vohra, 1997. "Incomplete Information, Incentive Compatibility and the Core," Working Papers 97-11, Brown University, Department of Economics.
  4. Bernheim, B. Douglas & Peleg, Bezalel & Whinston, Michael D., 1987. "Coalition-Proof Nash Equilibria I. Concepts," Journal of Economic Theory, Elsevier, vol. 42(1), pages 1-12, June.
  5. Ray, Debraj, 1989. "Credible Coalitions and the Core," International Journal of Game Theory, Springer, vol. 18(2), pages 185-87.
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Cited by:
  1. Habis Helga & Herings P. Jean-Jacques, 2011. "Stochastic Bankruptcy Games," Research Memoranda 045, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.

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