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Efficiency in Uncertain Cooperative Games

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Author Info
BOSSERT, Walter
DERKS, Jean
PETERS, Hans

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Abstract

A contingent contract in a transferable utility game under uncertainty specifies an outcome for each possible state. It is assumed that coalitions evaluate these contracts by considering the minimal possible excesses. A main question of the paper concerns the existence and characterization of efficient contracts. It is shown that they exist if and only if the set of possible coalitions contains a balanced subset. Moreover, a characterization of values that result in efficient contracts in the case of minimally balanced collections is provided.

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File URL: http://hdl.handle.net/1866/354
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Publisher Info
Paper provided by Universite de Montreal, Departement de sciences economiques in its series Cahiers de recherche with number 2001-14.

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Length: 13 pages
Date of creation: 2001
Date of revision:
Handle: RePEc:mtl:montde:2001-14

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Related research
Keywords: transferable utility games; uncertainty; balanced collections;

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Find related papers by JEL classification:
C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General

References listed on IDEAS
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  1. Bossert, Walter & Peters, Hans, 2001. "Minimax Regret and Efficient Bargaining under Uncertainty," Games and Economic Behavior, Elsevier, vol. 34(1), pages 1-10, January. [Downloadable!] (restricted)
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  2. Hans Peters & Walter Bossert, 2002. "Efficient solutions to bargaining problems with uncertain disagreement points," Social Choice and Welfare, Springer, vol. 19(3), pages 489-502. [Downloadable!] (restricted)
  3. Bossert, Walter & Nosal, Ed & Sadanand, Venkatraman, 1996. "Bargaining under Uncertainty and the Monotone Path Solutions," Games and Economic Behavior, Elsevier, vol. 14(2), pages 173-189, June. [Downloadable!] (restricted)
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This page was last updated on 2009-12-25.

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