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Cores of games with positive externalities

  • CHANDER, Parkash

    ()

    (National University of Singapore and Université catholique de Louvain, CORE, B-1348 Louvain-la-Neuve, Belgium)

This paper introduces a core concept, called the γ-core, in the primitive framework of a strategic game. For a certain class of strategic games, it is a weaker concept than the strong Nash equilibrium, but in general stronger than the conventional α- and β- cores. We argue that the coalition formation process is an infinitely repeated game and show that the grand coalition forms if the γ-core is nonempty. This is a weaker sufficient condition than the previous such condition (Maskin (2003, Theorem 4)). As an application of this result, it is shown that the γ- core of an oligopolistic market is nonempty and thus the grand coalition forms.

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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2010004.

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Date of creation: 01 Jan 2010
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Handle: RePEc:cor:louvco:2010004
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