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Dynamic Farsighted Stability

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  • Hannu Vartiainen

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

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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File URL: http://www.ace-economics.fi/kuvat/dp022.pdf
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Bibliographic Info

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
Date of revision:
Handle: RePEc:tkk:dpaper:dp22

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Related research

Keywords: vNM stable set; farsightedness; dynamic; agenda formation;

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References

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  1. DIAMANTOUDI, Effrosyni & XUE, Licun, 2002. "Coalitions, agreements and efficiency," CORE Discussion Papers 2002047, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Page, Frank Jr. & Wooders, Myrna H. & Kamat, Samir, 2005. "Networks and farsighted stability," Journal of Economic Theory, Elsevier, vol. 120(2), pages 257-269, February.
  3. Effrosyni Diamantoudi & Licun Xue, 2003. "Farsighted stability in hedonic games," Social Choice and Welfare, Springer, vol. 21(1), pages 39-61, 08.
  4. Hannu Vartiainen, 2007. "Cognitive Equilibrium," Discussion Papers 20, Aboa Centre for Economics.
  5. Barbera, Salvador & Gerber, Anke, 2007. "A note on the impossibility of a satisfactory concept of stability for coalition formation games," Economics Letters, Elsevier, vol. 95(1), pages 85-90, April.
  6. Moulin, Herve, 1994. "Social choice," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 2, chapter 31, pages 1091-1125 Elsevier.
  7. DUTTA, Bhaskar & JACKSON, Matthew O. & LE BRETON, Michel, 1999. "Strategic candidacy and voting procedures," CORE Discussion Papers 1999011, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  8. Konishi, Hideo & Ray, Debraj, 2003. "Coalition formation as a dynamic process," Journal of Economic Theory, Elsevier, vol. 110(1), pages 1-41, May.
  9. Barbera, Salvador & Gerber, Anke, 2003. "Corrigendum to "On coalition formation: durable coalition structures": [Mathematical Social Sciences 45 (2003) 185-203]," Mathematical Social Sciences, Elsevier, vol. 46(3), pages 355-356, December.
  10. Dutta, Bhaskar & Jackson, Matthew O. & Le Breton, Michel, 2002. "Voting by Successive Elimination and Strategic Candidacy," Journal of Economic Theory, Elsevier, vol. 103(1), pages 190-218, March.
  11. Armando Gomes & Philippe Jehiel, 2005. "Dynamic Processes of Social and Economic Interactions: On the Persistence of Inefficiencies," Journal of Political Economy, University of Chicago Press, vol. 113(3), pages 626-667, June.
  12. Dutta, Bhaskar, 1988. "Covering sets and a new condorcet choice correspondence," Journal of Economic Theory, Elsevier, vol. 44(1), pages 63-80, February.
  13. Effrosyni Diamantoudi & Licun Xue, 2006. "Lucas Counter Example Revisited," Departmental Working Papers 2005-09, McGill University, Department of Economics.
  14. Licun Xue, 1998. "Coalitional stability under perfect foresight," Economic Theory, Springer, vol. 11(3), pages 603-627.
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