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Implementing Cooperative Solution Concepts: a Generalized Bidding Approach

  • Yuan Ju

    ()

    (Keele University, Centre for Economic Research and School of Economic and Management Studies)

  • David Wettstein

    ()

    (Department of Economics, Ben-Gurion University of the Negev)

This paper provides a framework for implementing and comparing several solution concepts for transferable utility cooperative games.We construct bidding mechanisms where players bid for the role of the proposer. The mechanisms differ in the power awarded to the proposer. The Shapley, consensus and equal surplus values are implemented in subgame perfect equilibrium outcomes as power shifts away from the proposer to the rest of the players. Moreover, an alternative informational structure where these solution concepts can be implemented without imposing any conditions of the transferable utility game is discussed as well.

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File URL: http://www.keele.ac.uk/depts/ec/wpapers/kerp0606.pdf
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Paper provided by Centre for Economic Research, Keele University in its series Keele Economics Research Papers with number KERP 2006/06.

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Length: 22 pages
Date of creation: Apr 2006
Date of revision:
Handle: RePEc:kee:kerpuk:2006/06
Contact details of provider: Postal: Department of Economics, University of Keele, Keele, Staffordshire, ST5 5BG - United Kingdom
Phone: +44 (0)1782 584581
Fax: +44 (0)1782 717577
Web page: http://www.keele.ac.uk/depts/ec/cer/
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Order Information: Postal: Centre for Economic Research, Research Institute for Public Policy and Management, Keele University, Staffordshire ST5 5BG - United Kingdom
Web: http://www.keele.ac.uk/depts/ec/cer/pubs_kerps.htm Email:


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  1. Yuan Ju & Peter Borm, 2005. "Externalities and Compensation:Primeval Games and Solutions," Keele Economics Research Papers KERP 2005/05, Centre for Economic Research, Keele University.
  2. François Maniquet, 2003. "Implementation of allocation rules under perfect information," Social Choice and Welfare, Springer, vol. 21(2), pages 323-346, October.
  3. Inés Macho-Stadler & David Pérez-Castrillo & David Wettstein, 2005. "Efficient Bidding with Externalities," UFAE and IAE Working Papers 641.05, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  4. (*), Y. Stephen Chiu & Ani Dasgupta, 1998. "On implementation via demand commitment games," International Journal of Game Theory, Springer, vol. 27(2), pages 161-189.
  5. Pham Do, K.H. & Norde, H.W., 2002. "The Shapley Value for Partition Function Form Games," Discussion Paper 2002-4, Tilburg University, Center for Economic Research.
  6. Gul, Faruk, 1989. "Bargaining Foundations of Shapley Value," Econometrica, Econometric Society, vol. 57(1), pages 81-95, January.
  7. Thomson, William, 2003. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: a survey," Mathematical Social Sciences, Elsevier, vol. 45(3), pages 249-297, July.
  8. Krishna, Vijay & Serrano, Roberto, 1995. "Perfect Equilibria of a Model of N-Person Noncooperative Bargaining," International Journal of Game Theory, Springer, vol. 24(3), pages 259-72.
  9. Maskin, Eric & Moore, John, 1999. "Implementation and Renegotiation," Review of Economic Studies, Wiley Blackwell, vol. 66(1), pages 39-56, January.
  10. Juan Vidal-Puga, 2005. "A bargaining approach to the Owen value and the Nash solution with coalition structure," Economic Theory, Springer, vol. 25(3), pages 679-701, 04.
  11. Volij, Oscar & Dagan, Nir & Serrano, Roberto, 1997. "A Non-Cooperative View of Consistent Bankruptcy Rules," Staff General Research Papers 5130, Iowa State University, Department of Economics.
  12. Ignacio García-Jurado & Julio González-Díaz & Antonio Villar, 2006. "A Non-cooperative Approach to Bankruptcy Problems," Spanish Economic Review, Springer, vol. 8(3), pages 189-197, September.
  13. Dagan, N. & Serrano, R. & Volij, O.C., 1994. "A Non-Cooperative View of Consistent Bankruptcy Rules," Discussion Paper 1994-11, Tilburg University, Center for Economic Research.
  14. Sergiu Hart & Andreu Mas-Colell, 1994. "Bargaining and value," Economics Working Papers 114, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 1995.
  15. Serrano, Roberto, 1995. "Strategic bargaining, surplus sharing problems and the nucleolus," Journal of Mathematical Economics, Elsevier, vol. 24(4), pages 319-329.
  16. Vidal-Puga, Juan & Bergantinos, Gustavo, 2003. "An implementation of the Owen value," Games and Economic Behavior, Elsevier, vol. 44(2), pages 412-427, August.
  17. Juan J. Vidal-Puga, 2004. "Bargaining with commitments," International Journal of Game Theory, Springer, vol. 33(1), pages 129-144, January.
  18. Sandeep Baliga & Sandro Brusco, 2000. "Collusion, renegotiation and implementation," Social Choice and Welfare, Springer, vol. 17(1), pages 69-83.
  19. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
  20. Perez-Castrillo, David & Wettstein, David, 2001. "Bidding for the Surplus : A Non-cooperative Approach to the Shapley Value," Journal of Economic Theory, Elsevier, vol. 100(2), pages 274-294, October.
  21. Yuan Ju, 2007. "The Consensus Value For Games In Partition Function Form," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 9(03), pages 437-452.
  22. Moldovanu, Benny & Winter, Eyal, 1994. "Core implementation and increasing returns to scale for cooperation," Journal of Mathematical Economics, Elsevier, vol. 23(6), pages 533-548, November.
  23. David P�rez-Castrillo & David Wettstein, 2002. "Choosing Wisely: A Multibidding Approach," American Economic Review, American Economic Association, vol. 92(5), pages 1577-1587, December.
  24. Yuan Ju & Peter Borm & Pieter Ruys, 2007. "The consensus value: a new solution concept for cooperative games," Social Choice and Welfare, Springer, vol. 28(4), pages 685-703, June.
  25. Ariel Rubinstein, 2010. "Perfect Equilibrium in a Bargaining Model," Levine's Working Paper Archive 252, David K. Levine.
  26. Moore, John & Repullo, Rafael, 1988. "Subgame Perfect Implementation," Econometrica, Econometric Society, vol. 56(5), pages 1191-1220, September.
  27. Winter, Eyal, 1994. "The Demand Commitment Bargaining and Snowballing Cooperation," Economic Theory, Springer, vol. 4(2), pages 255-73, March.
  28. Young, H.P., 1994. "Cost allocation," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 2, chapter 34, pages 1193-1235 Elsevier.
  29. Faruk Gul, 1999. "Efficiency and Immediate Agreement: A Reply to Hart and Levy," Econometrica, Econometric Society, vol. 67(4), pages 913-918, July.
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