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Sequential coalition formation and the core in the presence of externalities

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  • László Á. Kóczy

    ()
    (Budapest Tech)

Abstract

The sequential coalition formation model of Bloch (1996) to solve cooperative games with externalities exhibits some anomalies when related to classical concepts. We elaborate on these problems, define a modification of Bloch's model and show that its order-independent equilibria coincide with the (pessimistic) recursive core.

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File URL: http://uni-obuda.hu/users/vecseya/RePEc/pkk/wpaper/0801.pdf
File Function: Author's Accepted Manuscript, 2008
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Bibliographic Info

Paper provided by Óbuda University, Keleti Faculty of Business and Management in its series Working Paper Series with number 0801.

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Length: 12 pages
Date of creation: Feb 2006
Date of revision: Apr 2008
Publication status: Forthcoming in Games and Economic Behavior
Handle: RePEc:pkk:wpaper:0801

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Keywords: Core; externalities; sequential coalition formation; order-independent equilibria;

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References

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  1. Huang, Chen-Ying & Sjostrom, Tomas, 2006. "Implementation of the recursive core for partition function form games," Journal of Mathematical Economics, Elsevier, vol. 42(6), pages 771-793, September.
  2. László Kóczy, 2007. "A recursive core for partition function form games," Theory and Decision, Springer, Springer, vol. 63(1), pages 41-51, August.
  3. Bloch, Francis, 1996. "Sequential Formation of Coalitions in Games with Externalities and Fixed Payoff Division," Games and Economic Behavior, Elsevier, Elsevier, vol. 14(1), pages 90-123, May.
  4. Huang, Chen-Ying & Sjostrom, Tomas, 2003. "Consistent solutions for cooperative games with externalities," Games and Economic Behavior, Elsevier, Elsevier, vol. 43(2), pages 196-213, May.
  5. Perry, Motty & Reny, Philip J, 1994. "A Noncooperative View of Coalition Formation and the Core," Econometrica, Econometric Society, Econometric Society, vol. 62(4), pages 795-817, July.
  6. Moldovanu Benny & Winter Eyal, 1995. "Order Independent Equilibria," Games and Economic Behavior, Elsevier, Elsevier, vol. 9(1), pages 21-34, April.
  7. Chatterjee, Kalyan & Bhaskar Dutta & Debraj Ray & Kunal Sengupta, 1993. "A Noncooperative Theory of Coalitional Bargaining," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 60(2), pages 463-77, April.
  8. Lagunoff Roger D., 1994. "A Simple Noncooperative Core Story," Games and Economic Behavior, Elsevier, Elsevier, vol. 7(1), pages 54-61, July.
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Cited by:
  1. László Á. Kóczy, 2009. "Stationary consistent equilibrium coalition structures constitute the recursive core," Working Paper Series, Óbuda University, Keleti Faculty of Business and Management 0905, Óbuda University, Keleti Faculty of Business and Management.
  2. László Á. Kóczy & Dávid Csercsik, 2011. "Externalities in the games over electrical power transmission networks," Working Paper Series, Óbuda University, Keleti Faculty of Business and Management 1103, Óbuda University, Keleti Faculty of Business and Management.
  3. Okada, Akira, 2010. "The Nash bargaining solution in general n-person cooperative games," Journal of Economic Theory, Elsevier, Elsevier, vol. 145(6), pages 2356-2379, November.

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