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Epsilon Cores of Games and Economies With Limited Side Payments

Author

Listed:
  • Kovalenkov, A.
  • Holtz Wooders, M.

Abstract

We introduce the concept of a parameterized collection of games with limited side payments, ruling out large transfers of utility. Under the assumption that the payoff set of the grand coalition is convex, we show that a large game with limited side payments has a non-empty epsilon-core. Our second result is that, when some degree of side-paymentness within nearly effective small groups is assumed, then all payoffs in the epsilon-core treat all players of the same type approximately eqully. A bound on the distance between epsilon-core payoffs of any two players of the same approximate type is given in terms of the parameters describing the game.

Suggested Citation

  • Kovalenkov, A. & Holtz Wooders, M., 1997. "Epsilon Cores of Games and Economies With Limited Side Payments," UFAE and IAE Working Papers 392.97, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    • Handle: RePEc:aub:autbar:392.97
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    Cited by:

    1. Kovalenkov, Alexander & Wooders, Myrna, 2003. "Approximate cores of games and economies with clubs," Journal of Economic Theory, Elsevier, vol. 110(1), pages 87-120, May.
    2. Wooders, Myrna & Cartwright, Edward & Selten, Reinhard, "undated". "Social Conformity and Equilibrium in Pure Strategies in Games with Many Players," Economic Research Papers 269410, University of Warwick - Department of Economics.
    3. Alexander Kovalenkov & Myrna Holtz Wooders, 1997. "An explicit bound on e for non-emptiness of the e-core of an arbitrary game with side payments," Working Papers mwooders-98-05, University of Toronto, Department of Economics.
    4. Tovey, Craig A., 2010. "The instability of instability of centered distributions," Mathematical Social Sciences, Elsevier, vol. 59(1), pages 53-73, January.
    5. Alexander Kovalenkov & Myrna Wooders, 2003. "Advances in the theory of large cooperative games and applications to club theory; the side payments case," Chapters, in: Carlo Carraro (ed.), The Endogenous Formation of Economic Coalitions, chapter 1, Edward Elgar Publishing.
    6. Thomas Bräuninger, 2007. "Stability in Spatial Voting Games with Restricted Preference Maximizing," Journal of Theoretical Politics, , vol. 19(2), pages 173-191, April.
    7. Alexander Kovalenkov & Myrna Holtz Wooders, 1997. "An explicit bound on," Working Papers mwooders-98-04, University of Toronto, Department of Economics.
    8. Kovalenkov, Alexander & Wooders, Myrna Holts, "undated". "An explicit bound on " for nonemptiness of "-cores of games," Economic Research Papers 269258, University of Warwick - Department of Economics.

    More about this item

    Keywords

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    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D7 - Microeconomics - - Analysis of Collective Decision-Making

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