Majority Rules and Coalition Stability
We consider a class of symmetric games with externalities across coalitions and show that, under certain regularity conditions, restricting the deviating power to majority guarantees the existence of core-stable allocations. We also show that if majorities can extract resources from minorities, stability requires a supermajority rule, whose threshold is increasing in the extraction power.
|Date of creation:||Jan 2012|
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- Ray, D. & Vohra, R., 1993.
"Equilibrium Binding Agreements,"
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