The Core of a Partition Function Game
We consider partition function games and introduce new definitions of the core that include the effects of externalities. We assume that all players behave rationally and that all stable outcomes arising are consistent with the appropriate generalised concept of the core. The result is a recursive definition of the core where residual subgames are considered as games with fewer players and with a partition function that captures the externalities of the deviating coalition. Some properties of the new concepts are discussed.
|Date of creation:||Mar 2000|
|Date of revision:|
|Contact details of provider:|| Web page: http://feb.kuleuven.be/Economics/|
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- Chander, P. & Tulkens, H., .
"The core of an economy with multilateral environmental externalities,"
CORE Discussion Papers RP
1276, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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"Economic integration as a partition function game,"
CORE Discussion Papers
1997085, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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- Claude d'Aspremont & Alexis Jacquemin & Jean Jaskold Gabszewicz & John A. Weymark, 1983.
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Canadian Economics Association, vol. 16(1), pages 17-25, February.
- Herbert E. Scarf, 1965. "The Core of an N Person Game," Cowles Foundation Discussion Papers 182R, Cowles Foundation for Research in Economics, Yale University.
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