Péter Csóka () (Department of Finance, Corvinus University of Budapest) P. Jean-Jacques Herings () (Department of Economics, Maastricht University) László Á. Kóczy () (Keleti Faculty of Economics, Budapest Tech and Department of Economics, Maastricht University) Miklós Pintér () (Department of Mathematics, Corvinus University of Budapest)
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We generalize exactness to games with non-transferable utility (NTU). In an exact game for each coalition there is a core allocation on the boundary of its payoff set. Convex games with transferable utility are well-known to be exact. We study five generalizations of convexity in the NTU setting. We show that each of ordinal, coalition merge, individual merge and marginal convexity can be unified under NTU exactness. We provide an example of a cardinally convex game which is not NTU exact. Finally, we relate the classes of \Pi-balanced, totally \Pi-balanced, NTU exact, totally NTU exact, ordinally convex, cardinally convex, coalition merge convex, individual merge convex and marginal convex games to one another.
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Paper provided by Budapest Tech, Keleti Faculty of Economics in its series Working Paper Series with number
0904.
Find related papers by JEL classification: C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Péter Csóka & P. Jean-Jacques Herings & László Á. Kóczy, 2007.
"Stable Allocations of Risk,"
Working Paper Series
0802, Budapest Tech, Keleti Faculty of Economics, revised Apr 2008.
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Other versions:
Csóka, Péter & Herings, P. Jean-Jacques & Kóczy, László Á,, 2007.
"Stable Allocations of Risk,"
Research Memoranda
040, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization.
[Downloadable!]