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Cores of non-atomic market games

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  • M. Amarante
  • F. Maccheroni
  • M. Marinacci
  • L. Montrucchio

Abstract

We study the cores of non-atomic market games, a class of transferable utility co- operative games introduced by Aumann and Shapley [2], and, more in general, of those games that admit a na-continuous and concave extension to the set of ideal coalitions, studied by Einy, Moreno, and Shitovitz [9]. We show that the core of such games is norm compact and some related results. We also give a Multiple Priors interpretation of some of our .ndings.
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Suggested Citation

  • M. Amarante & F. Maccheroni & M. Marinacci & L. Montrucchio, 2006. "Cores of non-atomic market games," International Journal of Game Theory, Springer;Game Theory Society, vol. 34(3), pages 399-424, October.
    • Handle: RePEc:spr:jogath:v:34:y:2006:i:3:p:399-424
    DOI: 10.1007/s00182-006-0029-2
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    References listed on IDEAS

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    1. Hart, Sergiu & Neyman, Abraham, 1988. "Values of non-atomic vector measure games : Are they linear combinations of the measures?," Journal of Mathematical Economics, Elsevier, vol. 17(1), pages 31-40, February.
    2. Alain Chateauneuf & Fabio Maccheroni & Massimo Marinacci & Jean-Marc Tallon, 2005. "Monotone continuous multiple priors," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(4), pages 973-982, November.
    3. Neyman, Abraham, 2002. "Values of games with infinitely many players," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 3, chapter 56, pages 2121-2167, Elsevier.
    4. Diego Moreno & Benyamin Shitovitz & Ezra Einy, 1999. "The core of a class of non-atomic games which arise in economic applications," International Journal of Game Theory, Springer;Game Theory Society, vol. 28(1), pages 1-14.
    5. Massimo Marinacci & Luigi Montrucchio, 2005. "Stable cores of large games," International Journal of Game Theory, Springer;Game Theory Society, vol. 33(2), pages 189-213, June.
    6. MERTENS, Jean-François, 1980. "Values and derivatives," LIDAM Reprints CORE 435, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    8. Ghirardato, Paolo & Marinacci, Massimo, 2002. "Ambiguity Made Precise: A Comparative Foundation," Journal of Economic Theory, Elsevier, vol. 102(2), pages 251-289, February.
    9. Marinacci, Massimo & Montrucchio, Luigi, 2003. "Subcalculus for set functions and cores of TU games," Journal of Mathematical Economics, Elsevier, vol. 39(1-2), pages 1-25, February.
    10. Itzhak Gilboa, 2004. "Uncertainty in Economic Theory," Post-Print hal-00756317, HAL.
    11. Jean-François Mertens, 1980. "Values and Derivatives," Mathematics of Operations Research, INFORMS, vol. 5(4), pages 523-552, November.
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    Cited by:

    1. Amarante, Massimiliano, 2014. "A characterization of exact non-atomic market games," Journal of Mathematical Economics, Elsevier, vol. 54(C), pages 59-62.
    2. Massimiliano Amarante & Luigi Montrucchio, 2010. "The bargaining set of a large game," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 43(3), pages 313-349, June.
    3. Edhan, Omer, 2015. "Payoffs in exact TU economies," Journal of Economic Theory, Elsevier, vol. 155(C), pages 152-184.
    4. Massimiliano Amarante & Luigi Montrucchio, 2007. "Mas-Colell Bargaining Set of Large Games," Carlo Alberto Notebooks 63, Collegio Carlo Alberto.

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    More about this item

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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