A note on solution concepts for nontransferable utility games
While many game-theoretic solution concepts pertain to conditions of transferable utility (TU), market transactions and other exchanges generally occur under nontransferable utility (NTU). Extant solutions translate TU solution concepts to the NTU case by utilizing endogenously determined utility weight vectors, which can violate notions of equity. A new solution procedure is developed that resolves this longstanding problem, and an existence proof is provided.
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Volume (Year): 47 (2011)
Issue (Month): 6 ()
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References listed on IDEAS
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- Predtetchinski, Arkadi & Jean-Jacques Herings, P., 2004. "A necessary and sufficient condition for non-emptiness of the core of a non-transferable utility game," Journal of Economic Theory, Elsevier, vol. 116(1), pages 84-92, May.
- Herings P. Jean-Jacques & Predtetchinski Arkadi, 2002. "A Necessary and Sufficient Condition for Non--emptiness of the Core of a Non--transferable Utility Game," Research Memorandum 016, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
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