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A Solution Concept Related to “Bounded Rationality†for some Two-Echelon Models

Author

Listed:
  • Joaquin Sanchez-Soriano

    (Center of Operations Research (CIO), Miguel Hernandez University of Elche, Avda. Universidad s/n, Elche, E-03202, Spain)

  • Natividad Llorca

    (Center of Operations Research (CIO), Miguel Hernandez University of Elche, Avda. Universidad s/n, Elche, E-03202, Spain)

Abstract

Two-echelon models describe situations in which there are two differentiated groups of agents. Some examples of these models can be found in supply chain problems, transportation problems or two-sided markets. In this paper, we deal with two-sided transportation problems which can be used to describe a wide variety of logistic and market problems. We approach the problem from the perspective of cooperative games and study some solution concepts closely related to the game theoretical concept of core, but rather than focus specifically on the core of a transportation game, we introduce and study a new solution concept, a core catcher, which can be motivated by a kind of bounded rationality which can arise in these cooperative contexts.

Suggested Citation

  • Joaquin Sanchez-Soriano & Natividad Llorca, 2019. "A Solution Concept Related to “Bounded Rationality†for some Two-Echelon Models," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 21(01), pages 1-22, March.
    • Handle: RePEc:wsi:igtrxx:v:21:y:2019:i:01:n:s021919891940005x
    DOI: 10.1142/S021919891940005X
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