Laws of Scarcity for a Finite Game : Exact Bounds on Estimations
AbstractA "law of scarcity" is that scarceness is rewarded. We demonstrate laws of scarcity for cores and approximate cores of games. Furthermore, we show that equal treatment core payout vectors satisfy a condition of cyclic monotonicity. Our results are developed for parameterized collections of games and exact bounds on the maximum possible deviation of approximate core payo® vectors from satisfying a law of scarcity are stated in terms of the parameters describing the games. We note that the parameters can, in principle, be estimated.
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Bibliographic InfoPaper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 691.
Length: 17 pages
Date of creation: 2003
Date of revision:
monotonicity ; cooperative games ; clubs ; games with side payments (TU games) ; cyclic monotonicity ; law of scarcity ; law of demand ; approximate cores ; effective small groups ; parameterized collections of games;
Other versions of this item:
- Alexander Kovalenkov & Myrna Wooders, 2005. "Laws of scarcity for a finite game - exact bounds on estimations," Economic Theory, Springer, vol. 26(2), pages 383-396, 08.
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition
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.:
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