Representation of transferable utility games by coalition production economies
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.
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Volume (Year): 48 (2012)
Issue (Month): 3 ()
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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,
Elsevier, vol. 44(7-8), pages 853-860, July.
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- Martin J Osborne & Ariel Rubinstein, 2009. "A Course in Game Theory," Levine's Bibliography 814577000000000225, UCLA Department of Economics.
- 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.
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- Arnold, Tone & Schwalbe, Ulrich, 2002. "Dynamic coalition formation and the core," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 363-380, November.
- Volker Boehm, 1974. "The Core of an Economy with Production," Review of Economic Studies, Oxford University Press, vol. 41(3), pages 429-436.
- Inoue, Tomoki, 2011. "Representation of TU games by coalition production economies," Center for Mathematical Economics Working Papers 430, Center for Mathematical Economics, Bielefeld University. Full references (including those not matched with items on IDEAS)
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