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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- 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.
- LÃ¡szlÃ³ KÃ³czy, 2007.
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Springer, vol. 63(1), pages 41-51, August.
- Kóczy László Á, 2006. "A recursive core for partition function form games," Research Memorandum 031, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- 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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