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Representation of transferable utility games by coalition production economies

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  • Inoue, Tomoki

Abstract

We prove that, by the method of construction of a coalition production economy due to Sun et al. [Sun, N., Trockel, W., Yang, Z., 2008. Competitive outcomes and endogenous coalition formation in an n-person game. Journal of Mathematical Economics 44, 853–860], every transferable utility (TU) game can be generated by a coalition production economy. Namely, for every TU game, we can construct a coalition production economy that generates the given game. We briefly discuss the relationship between the core of a given TU game and the set of Walrasian payoff vectors for the induced coalition production economy.

Suggested Citation

  • Inoue, Tomoki, 2012. "Representation of transferable utility games by coalition production economies," Journal of Mathematical Economics, Elsevier, vol. 48(3), pages 143-147.
  • Handle: RePEc:eee:mateco:v:48:y:2012:i:3:p:143-147
    DOI: 10.1016/j.jmateco.2012.02.004
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    References listed on IDEAS

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    1. Sun, Ning & Trockel, Walter & Yang, Zaifu, 2008. "Competitive outcomes and endogenous coalition formation in an n-person game," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 853-860, July.
    2. Martin J. Osborne & Ariel Rubinstein, 1994. "A Course in Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650401, January.
    3. Boehm, Volker, 1974. "The Limit of the Core of an Economy with Production," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 15(1), pages 143-148, February.
    4. Joseph Greenberg, 1979. "Existence and Optimality of Equilibrium in Labour-managed Economies," Review of Economic Studies, Oxford University Press, vol. 46(3), pages 419-433.
    5. Ichiishi, Tatsuro, 1977. "Coalition Structure in a Labor-Managed Market Economy," Econometrica, Econometric Society, vol. 45(2), pages 341-360, March.
    6. Shapley, Lloyd S. & Shubik, Martin, 1969. "On market games," Journal of Economic Theory, Elsevier, vol. 1(1), pages 9-25, June.
    7. W. Hildenbrand, 1968. "The Core of an Economy with a Measure Space of Economic Agents," Review of Economic Studies, Oxford University Press, vol. 35(4), pages 443-452.
    8. Billera, Louis J., 1974. "On games without side payments arising from a general class of markets," Journal of Mathematical Economics, Elsevier, vol. 1(2), pages 129-139, August.
    9. Arnold, Tone & Schwalbe, Ulrich, 2002. "Dynamic coalition formation and the core," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 363-380, November.
    10. Sondermann, Dieter, 1974. "Economies of scale and equilibria in coalition production economies," Journal of Economic Theory, Elsevier, vol. 8(3), pages 259-291, July.
    11. Volker Boehm, 1974. "The Core of an Economy with Production," Review of Economic Studies, Oxford University Press, vol. 41(3), pages 429-436.
    12. Inoue, Tomoki, 2011. "Representation of TU games by coalition production economies," Center for Mathematical Economics Working Papers 430, Center for Mathematical Economics, Bielefeld University.
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    Cited by:

    1. Inoue, Tomoki, 2013. "Representation of non-transferable utility games by coalition production economies," Journal of Mathematical Economics, Elsevier, vol. 49(2), pages 141-149.

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