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Stability And Allocation In A Three-Player Game

Author

Listed:
  • LEQIN WU

    (Institute of Computational Mathematics and Scientific/Engineering Computing, Chinese Academy of Sciences, Beijing, China)

  • XIN CHEN

    (Department of Industrial and Enterprise Systems Engineering, University of Illinois at Urbana-Champaign, Illinois, USA)

  • YE LU

    (Department of Management Science, City University of Hong Kong, Kowloon Tong, Hong Kong)

  • YA-XIANG YUAN

    (Institute of Computational Mathematics and Scientific/Engineering Computing, Chinese Academy of Sciences, Beijing, China)

Abstract

We study a three-player cooperative game with transferable utility where the players may form different coalition structures. A new concept of stability of a coalition is introduced, and the existence of a stable coalition is proven. Based on this stability concept, a novel approach is given to determine sensible allocations in a grand coalition of three players. We also compare our result with classical core solution and implement our theory on a specific price model.

Suggested Citation

  • Leqin Wu & Xin Chen & Ye Lu & Ya-Xiang Yuan, 2013. "Stability And Allocation In A Three-Player Game," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 30(03), pages 1-23.
    • Handle: RePEc:wsi:apjorx:v:30:y:2013:i:03:n:s0217595913400149
    DOI: 10.1142/S0217595913400149
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