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On the importance of reduced games in axiomatizing core extensions

Author

Listed:
  • Camelia Bejan

    (University of Washington, Bothell)

  • Juan Camilo Gómez

    (University of Washington, Bothell)

  • Anne van den Nouweland

    (1285 University of Oregon)

Abstract

We propose new axiomatizations of the core and three related solution concepts that also provide predictions for (classes of) games in which the core itself is empty. Our results showcase the importance of the reduced game formulation and identify the corresponding converse consistency property as the differentiating characteristic between the core and its various extensions. Existing axiomatizations of the core and similar concepts include the required form of feasibility in the generic definition of a solution concept and/or are restricted to the domain of games for which existence is guaranteed. We dispense of both practices, thus opening up the possibility of comparing, via basic axioms, solution concepts that have different feasibility constraints and domains.

Suggested Citation

  • Camelia Bejan & Juan Camilo Gómez & Anne van den Nouweland, 2022. "On the importance of reduced games in axiomatizing core extensions," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 59(3), pages 637-668, October.
    • Handle: RePEc:spr:sochwe:v:59:y:2022:i:3:d:10.1007_s00355-022-01403-9
    DOI: 10.1007/s00355-022-01403-9
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