Sequential coalition formation and the core in the presence of externalities
The sequential coalition formation model of Bloch to solve cooperative games with externalities exhibits some anomalies when related to classical concepts [Bloch, F., 1996. Sequential formation of coalitions in games with externalities and fixed payoff division. Games Econ. Behav. 14, 90-123]. We elaborate on these problems, define a modification of Bloch's model and show that its order-independent equilibria coincide with the (pessimistic) recursive core [Kóczy, L.Á., 2007. A recursive core for partition function form games. Theory Dec. 63, 41-51].
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- Kóczy László Á, 2006.
"A recursive core for partition function form games,"
031, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- LÃ¡szlÃ³ KÃ³czy, 2007. "A recursive core for partition function form games," Theory and Decision, Springer, vol. 63(1), pages 41-51, August.
- Lagunoff Roger D., 1994. "A Simple Noncooperative Core Story," Games and Economic Behavior, Elsevier, vol. 7(1), pages 54-61, July.
- Kalyan Chatterjee & Bhaskar Dutta & Debraj Ray & Kunal Sengupta, 1993. "A Noncooperative Theory of Coalitional Bargaining," Review of Economic Studies, Oxford University Press, vol. 60(2), pages 463-477.
- Huang, Chen-Ying & Sjostrom, Tomas, 2003. "Consistent solutions for cooperative games with externalities," Games and Economic Behavior, Elsevier, vol. 43(2), pages 196-213, May.
- Chen Ying Huang & Tomas Sjostrom, 2005.
"Implementation of the Recursive Core for Partition Function Form Games,"
Economics Working Papers
0052, Institute for Advanced Study, School of Social Science.
- Huang, Chen-Ying & Sjostrom, Tomas, 2006. "Implementation of the recursive core for partition function form games," Journal of Mathematical Economics, Elsevier, vol. 42(6), pages 771-793, September.
- Perry, Motty & Reny, Philip J, 1994.
"A Noncooperative View of Coalition Formation and the Core,"
Econometric Society, vol. 62(4), pages 795-817, July.
- Perry, M. & Rany, P., 1992. "A Non-Cooperative View of Coalition Formation and the Core," UWO Department of Economics Working Papers 9203, University of Western Ontario, Department of Economics.
- Moldovanu Benny & Winter Eyal, 1995. "Order Independent Equilibria," Games and Economic Behavior, Elsevier, vol. 9(1), pages 21-34, April.
- Bloch, Francis, 1996. "Sequential Formation of Coalitions in Games with Externalities and Fixed Payoff Division," Games and Economic Behavior, Elsevier, vol. 14(1), pages 90-123, May.
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