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Epsilon cores of games and economies with limited side payments Author info | Abstract | Publisher info | Download info | Related research | Statistics Alexander Kovalenkov
Myrna H. Wooders
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We introduce the concept of a parameterized collection of games with limited side payments, ruling out large transfers of utility. Under the assumption that the payoff set of the grand coalition is convex, we show that a game with limited side payments has a nonempty epsilon-core. Our main result is that, when some degree of side-paymentness within nearly-effective small groups is assumed, then all payoffs in the epsilon-core treat similar players similarly. A bound on the distance between epsilon-core payoffs of any two similar players is given in terms of the parameters describing the game. These results add to the literature showing that games with many players and small effective groups have the properties of competitive markets.
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Paper provided by University of Toronto, Department of Economics in its series Working Papers with number
mwooders-00-02.
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Length: 23 pages
Date of creation: 11 Jul 2000Date of revision:
Handle: RePEc:tor:tecipa:mwooders-00-02Contact details of provider: Postal: 150 St. George Street, Toronto, Ontario Phone: (416) 978-5283 Fax: (416) 978-6713
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Paper Alexander Kovalenkov & Myrna Holtz Wooders, 1997.
"Epsilon cores of games and economies with limited side payments ,"
Working Papers
mwooders-98-03, University of Toronto, Department of Economics.
[Downloadable!] Kovalenkov, A. & Holtz Wooders, M., 1997.
"Epsilon Cores of Games and Economies With Limited Side Payments ,"
UFAE and IAE Working Papers
392.97, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
Alexander Kovalenkovy & Wooders, Myrna Holtz, 1999.
"Epsilon cores of games and economies with limited side payments ,"
The Warwick Economics Research Paper Series (TWERPS)
536, University of Warwick, Department of Economics.
[Downloadable!] Find related papers by JEL classification: C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory D7 - Microeconomics - - Analysis of Collective Decision-Making
This paper has been announced in the following NEP Reports :
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.: Charles M. Tiebout, 1956.
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Alexander Kovalenkov & Myrna H. Wooders, 1998.
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Working Papers
mwooders-00-01, University of Toronto, Department of Economics.
[Downloadable!]
Other versions:
Kovalenkov, Alexander & Wooders, Myrna Holtz, 1999.
"Approximate Cores Of Games And Economies With Clubs ,"
The Warwick Economics Research Paper Series (TWERPS)
535, University of Warwick, Department of Economics.
[Downloadable!] Kovalenkov, Alexander & Wooders, Myrna Holtz, 2002.
"Approximate Cores Of Games And Economies With Clubs ,"
The Warwick Economics Research Paper Series (TWERPS)
634, University of Warwick, Department of Economics.
[Downloadable!] Alexander Kovalenkov & Myrna Holtz Wooders, 2000.
"Approximate Cores of Games and Economies with Clubs ,"
Econometric Society World Congress 2000 Contributed Papers
1790, Econometric Society.
[Downloadable!] Kovalenkov, Alexander & Wooders, Myrna, 2003.
"Approximate cores of games and economies with clubs ,"
Journal of Economic Theory ,
Elsevier, vol. 110(1), pages 87-120, May.
[Downloadable!] (restricted) Kaneko, Mamoru & Wooders, Myrna Holtz, 1996.
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Scotchmer, S. & Wooders, M.H., 1988.
"Monotonicity in games that Exhaust Gains to Scale ,"
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525, Stanford - Institute for Thoretical Economics.
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"Monotonic Preferences and Core Equivalence ,"
Econometrica ,
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Wooders, Myrna Holtz & Zame, William R., 1987.
"Large games: Fair and stable outcomes ,"
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Alexander Kovalenkov & Myrna Holtz Wooders, 1997.
"An explicit bound on ,"
Working Papers
mwooders-98-04, University of Toronto, Department of Economics.
[Downloadable!]
Kovalenkov, A. & Wooders, M.H., 1997.
"Three Theorems on Non-Emptiness of Approximate Cores: Part 2. Economies with Clubs ,"
UFAE and IAE Working Papers
391.97, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
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Econometrica ,
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Garratt, Rod & Qin, Cheng-Zhong, 1997.
"On a Market for Coalitions with Indivisible Agents and Lotteries ,"
Journal of Economic Theory ,
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[Downloadable!] (restricted)
Other versions: Mas-Colell, Andreu, 1975.
"A further result on the representation of games by markets ,"
Journal of Economic Theory ,
Elsevier, vol. 10(1), pages 117-122, February.
[Downloadable!] (restricted)
Wooders, Myrna Holtz & Zame, William R, 1984.
"Approximate Cores of Large Games ,"
Econometrica ,
Econometric Society, vol. 52(6), pages 1327-50, November.
[Downloadable!] (restricted)
Shubik, Martin & Wooders, Myrna Holtz, 1983.
"Approximate cores of replica games and economies. Part I: Replica games, externalities, and approximate cores ,"
Mathematical Social Sciences ,
Elsevier, vol. 6(1), pages 27-48, October.
[Downloadable!] (restricted)
Myrna Holtz Wooders, 1992.
"Large Games and Economies With Effective Small Groups ,"
Discussion Paper Serie B
215, University of Bonn, Germany, revised Aug 1992.
Kaneko, Mamoru & Wooders, Myrna Holtz, 1986.
"The core of a game with a continuum of players and finite coalitions: The model and some results ,"
Mathematical Social Sciences ,
Elsevier, vol. 12(2), pages 105-137, October.
[Downloadable!] (restricted)
Martin Shubik & Myrna Holtz Wooders, 1982.
"Near-Markets and Market Games ,"
Cowles Foundation Discussion Papers
657, Cowles Foundation, Yale University.
[Downloadable!]
Mamoru Kaneko & Myrna Holtz Wooders, 1982.
"Cores of Partitioning Games ,"
Cowles Foundation Discussion Papers
620, Cowles Foundation, Yale University.
[Downloadable!]
Other versions: Kannai, Yakar, 1970.
"Continuity Properties of the Core of a Market ,"
Econometrica ,
Econometric Society, vol. 38(6), pages 791-815, November.
[Downloadable!] (restricted)
Wooders, Myrna Holtz, 1983.
"The epsilon core of a large replica game ,"
Journal of Mathematical Economics ,
Elsevier, vol. 11(3), pages 277-300, July.
[Downloadable!] (restricted)
Myrna Holtz Wooders, 1996.
"Equivalence of Lindahl equilibrium with participation prices and the core (*) ,"
Economic Theory ,
Springer, vol. 9(1), pages 115-127.
Le Breton, M & Owen, G & Weber, S, 1992.
"Strongly Balanced Cooperative Games ,"
International Journal of Game Theory ,
Springer, vol. 20(4), pages 419-27.
Other versions:
Le Breton, M. & Owen, G. & Weber, S., 1991.
"Strongly Balanced Cooperative Games ,"
Papers
92-3, York (Canada) - Department of Economics.
Le Breton, M. & Owen, G. & Weber, S., 1991.
"Strongly Balanced Cooperative Games ,"
G.R.E.Q.A.M.
91a09, Universite Aix-Marseille III.
Le Breton,Michel & Owen,Guillermo & Weber,Shlomo, 1991.
"Strongly balanced cooperative games ,"
Discussion Paper Serie A
338, University of Bonn, Germany.
Kaneko, Mamoru & Wooders, Myrna Holtz, 1989.
"The core of a continuum economy with widespread externalities and finite coalitions: From finite to continuum economies ,"
Journal of Economic Theory ,
Elsevier, vol. 49(1), pages 135-168, October.
[Downloadable!] (restricted)
Kovalenkov, A. & Wooders, M.H., 1997.
"Three Theorems on Non-Emptiness of Approximate Cores: Part 1. Game Theoretic Results ,"
UFAE and IAE Working Papers
390.97, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
Manelli, Alejandro M., 1991.
"Core convergence without monotone preferences and free disposal ,"
Journal of Economic Theory ,
Elsevier, vol. 55(2), pages 400-415, December.
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Mas-Colell, Andreu, 1979.
"A refinement of the core equivalence theorem ,"
Economics Letters ,
Elsevier, vol. 3(4), pages 307-310.
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Kaneko, Mamoru, 1982.
"The central assignment game and the assignment markets ,"
Journal of Mathematical Economics ,
Elsevier, vol. 10(2-3), pages 205-232, September.
[Downloadable!] (restricted)
Other versions:
Full
references Cited by : (explanations , 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.)
Kovalenkov, Alexander & Wooders, Myrna Holtz, 2002.
"Approximate Cores Of Games And Economies With Clubs ,"
The Warwick Economics Research Paper Series (TWERPS)
634, University of Warwick, Department of Economics.
[Downloadable!]
Other versions:
Alexander Kovalenkov & Myrna H. Wooders, 1998.
"Approximate cores of games and economies with clubs ,"
Working Papers
mwooders-00-01, University of Toronto, Department of Economics.
[Downloadable!] Kovalenkov, Alexander & Wooders, Myrna Holtz, 1999.
"Approximate Cores Of Games And Economies With Clubs ,"
The Warwick Economics Research Paper Series (TWERPS)
535, University of Warwick, Department of Economics.
[Downloadable!] Alexander Kovalenkov & Myrna Holtz Wooders, 2000.
"Approximate Cores of Games and Economies with Clubs ,"
Econometric Society World Congress 2000 Contributed Papers
1790, Econometric Society.
[Downloadable!] Kovalenkov, Alexander & Wooders, Myrna, 2003.
"Approximate cores of games and economies with clubs ,"
Journal of Economic Theory ,
Elsevier, vol. 110(1), pages 87-120, May.
[Downloadable!] (restricted) Alexander Kovalenkov & Myrna Holtz Wooders, 1997.
"An explicit bound on ,"
Working Papers
mwooders-98-04, University of Toronto, Department of Economics.
[Downloadable!]
Kovalenkov, Alexander & Wooders, Myrna, 2002.
"Advances In The Theory Of Large Cooperative Games And Applications To Club Theory : The Side Payments Case ,"
The Warwick Economics Research Paper Series (TWERPS)
641, University of Warwick, Department of Economics.
[Downloadable!]
Alexander Kovalenkov & Myrna Holtz Wooders, 1997.
"An explicit bound on e for non-emptiness of the e-core of an arbitrary game with side payments ,"
Working Papers
mwooders-98-05, University of Toronto, Department of Economics.
[Downloadable!]
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