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The Epsilon Core of a Large Game


  • Myrna Holtz Wooders

    (SUNY, Stony Brook)


Sufficient conditions are given for large replica games without side payments to have non-empty approximate cores for all sufficiently large replications. No "balancedness" assumptions are required. The conditions are superadditivity, a very weak boundedness condition, and convexity of the payoff sets. An example is provided to show that under these conditions, the (exact) core well may be empty.

Suggested Citation

  • Myrna Holtz Wooders, 1981. "The Epsilon Core of a Large Game," Cowles Foundation Discussion Papers 612, Cowles Foundation for Research in Economics, Yale University.
  • Handle: RePEc:cwl:cwldpp:612

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    References listed on IDEAS

    1. Khan, M Ali & Rashid, S, 1975. "Nonconvexity and Pareto Optimality in Large Markets," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(1), pages 222-245, February.
    2. Shapley, Lloyd & Scarf, Herbert, 1974. "On cores and indivisibility," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 23-37, March.
    3. Wooders, Myrna, 1980. "The Tiebout Hypothesis: Near Optimality in Local Public Good Economies," Econometrica, Econometric Society, vol. 48(6), pages 1467-1485, September.
    4. Milleron, Jean-Claude, 1972. "Theory of value with public goods: A survey article," Journal of Economic Theory, Elsevier, vol. 5(3), pages 419-477, December.
    5. Boehm, Volker, 1974. "The Limit of the Core of an Economy with Production," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 15(1), pages 143-148, February.
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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.

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