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Axiomatizing core extensions

  • Camelia Bejan

    ()

  • Juan Gómez

    ()

We give an axiomatization of the aspiration core on the domain of all TU-games using a relaxed feasibility condition, non-emptiness, individual rationality, and generalized versions of the reduced game property (consistency) and superadditivity. Our axioms also characterize the C-core (Guesnerie and Oddou, Econ Lett 3(4):301–306, 1979 ; Sun et al. J Math Econ 44(7–8):853–860, 2008 ) and the core on appropriate subdomains. The main result of the paper generalizes Peleg’s (J Math Econ 14(2):203–214, 1985 ) core axiomatization to the entire family of TU-games. Copyright Springer-Verlag 2012

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File URL: http://hdl.handle.net/10.1007/s00182-011-0316-4
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Article provided by Springer in its journal International Journal of Game Theory.

Volume (Year): 41 (2012)
Issue (Month): 4 (November)
Pages: 885-898

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Handle: RePEc:spr:jogath:v:41:y:2012:i:4:p:885-898
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  1. Sergiu Hart, 1983. "An Axiomatization of Harsanyi's Non-Transferable Utility Solution," Discussion Papers 573, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Hokari, Toru & Kibris, Ozgur, 2003. "Consistency, converse consistency, and aspirations in TU-games," Mathematical Social Sciences, Elsevier, vol. 45(3), pages 313-331, July.
  3. 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.
  4. Serrano, Roberto & Volij, Oscar, 1998. "Axiomatizations of neoclassical concepts for economies," Journal of Mathematical Economics, Elsevier, vol. 30(1), pages 87-108, August.
  5. Peleg, Bezalel, 1985. "An axiomatization of the core of cooperative games without side payments," Journal of Mathematical Economics, Elsevier, vol. 14(2), pages 203-214, April.
  6. Peter Sudhölter & Yan-An Hwang, 2001. "Axiomatizations of the core on the universal domain and other natural domains," International Journal of Game Theory, Springer, vol. 29(4), pages 597-623.
  7. Voorneveld, Mark & van den Nouweland, Anne, 1998. "A new axiomatization of the core of games with transferable utility," Economics Letters, Elsevier, vol. 60(2), pages 151-155, August.
  8. Keiding, Hans, 1986. "An axiomatization of the core of a cooperative game," Economics Letters, Elsevier, vol. 20(2), pages 111-115.
  9. Peleg, B, 1986. "On the Reduced Game Property and Its Converse," International Journal of Game Theory, Springer, vol. 15(3), pages 187-200.
  10. Aumann, Robert J, 1985. "An Axiomatization of the Non-transferable Utility Value," Econometrica, Econometric Society, vol. 53(3), pages 599-612, May.
  11. Guni Orshan & Peter Sudhölter, 2010. "The positive core of a cooperative game," International Journal of Game Theory, Springer, vol. 39(1), pages 113-136, March.
  12. Tadenuma, K, 1992. "Reduced Games, Consistency, and the Core," International Journal of Game Theory, Springer, vol. 20(4), pages 325-34.
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