Dynamic Farsighted Stability

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Dynamic Farsighted Stability

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Hannu Vartiainen () (Department of Economics, Turku School of Economics)

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Hannu Vartiainen

Abstract

We study farsighted stability under the assumption that coalitions may condition actions on the history of the play. vNM stable set over possible play paths is defined with respect to the indirect dominance relation. We show that such dynamic stable set always exists. It is characterized by a generalization of the ultimate uncovered set. In unbounded agenda setting context, the dynamic stable set implements only efficient outcomes if active coalitions form a majority.

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Paper provided by Aboa Centre for Economics in its series Discussion Papers with number 22.

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Length: 20
Date of creation: Sep 2007
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Handle: RePEc:tkk:dpaper:dp22

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Find related papers by JEL classification:
C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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Other versions:
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