A market interpretation of the proportional extended core
Any TU-game can be generated from a production economy with indivisible labor inputs. An equilibrium of that economy always exists after a central intervention that taxes income and subsidizes production. The set of equilibrium allocations corresponding to the smallest income tax coincides with the proportional extended core of the game.
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- Sun, Ning & Trockel, Walter & Yang, Zaifu, 2008.
"Competitive outcomes and endogenous coalition formation in an n-person game,"
Journal of Mathematical Economics,
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- Inoue, Tomoki, 2011. "Representation of TU games by coalition production economies," Center for Mathematical Economics Working Papers 430, Center for Mathematical Economics, Bielefeld University.
- Camelia Bejan & Juan Gómez, 2009. "Core extensions for non-balanced TU-games," International Journal of Game Theory, Springer;Game Theory Society, vol. 38(1), pages 3-16, March. Full references (including those not matched with items on IDEAS)
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