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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. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
  2. Sergiu Hart & Andreu Mas-Colell, 1994. "Bargaining and value," Economics Working Papers 114, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 1995.
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  4. Moldovanu, Benny & Eyal Winter, 1993. "Core Implementation and Increasing Returns to Scale for Cooperation," Discussion Paper Serie B 289, University of Bonn, Germany.
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  7. Juan Vidal-Puga, 2003. "Bargaining with commitments," Game Theory and Information 0306002, EconWPA.
  8. (*), Y. Stephen Chiu & Ani Dasgupta, 1998. "On implementation via demand commitment games," International Journal of Game Theory, Springer, vol. 27(2), pages 161-189.
  9. Dagan, Nir & Serrano, Roberto & Volij, Oscar, 1997. "A Noncooperative View of Consistent Bankruptcy Rules," Games and Economic Behavior, Elsevier, vol. 18(1), pages 55-72, January.
  10. 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.
  11. Ariel Rubinstein, 2010. "Perfect Equilibrium in a Bargaining Model," Levine's Working Paper Archive 252, David K. Levine.
  12. Ju, Y. & Borm, P.E.M., 2005. "Externalities and Compensation : Primeval Games and Solutions," Discussion Paper 2005-71, Tilburg University, Center for Economic Research.
  13. Ju, Y. & Borm, P.E.M. & Ruys, P.H.M., 2007. "The consensus value : A new solution concept for cooperative games," Other publications TiSEM 6cd44a12-a909-47f8-8d85-e, Tilburg University, School of Economics and Management.
  14. Kim Hang Pham Do & Henk Norde, 2007. "The Shapley Value For Partition Function Form Games," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 9(02), pages 353-360.
  15. 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.
  16. 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.
  17. David Pérez-Castrillo & David Wettstein, . "Bidding For The Surplus: A Non-Cooperative Approach To The Shapley Value," UFAE and IAE Working Papers 461.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  18. 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).
  19. Ju, Y. & Borm, P.E.M., 2008. "Externalities and compensation : Primeval games and solutions," Other publications TiSEM f6e1bcfc-f2a6-4fc7-ac90-7, Tilburg University, School of Economics and Management.
  20. Ju, Y. & Borm, P.E.M. & Ruys, P.H.M., 2004. "The Consensus Value : A New Solution Concept for Cooperative Games," Discussion Paper 2004-50, Tilburg University, Center for Economic Research.
  21. 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.
  22. Faruk Gul, 1999. "Efficiency and Immediate Agreement: A Reply to Hart and Levy," Econometrica, Econometric Society, vol. 67(4), pages 913-918, July.
  23. Winter, Eyal, 1994. "The Demand Commitment Bargaining and Snowballing Cooperation," Economic Theory, Springer, vol. 4(2), pages 255-73, March.
  24. Vidal-Puga, Juan & Bergantinos, Gustavo, 2003. "An implementation of the Owen value," Games and Economic Behavior, Elsevier, vol. 44(2), pages 412-427, August.
  25. Sandeep Baliga & Sandro Brusco, 2000. "Collusion, renegotiation and implementation," Social Choice and Welfare, Springer, vol. 17(1), pages 69-83.
  26. Gul, Faruk, 1989. "Bargaining Foundations of Shapley Value," Econometrica, Econometric Society, vol. 57(1), pages 81-95, January.
  27. Moore, John & Repullo, Rafael, 1988. "Subgame Perfect Implementation," Econometrica, Econometric Society, vol. 56(5), pages 1191-1220, September.
  28. 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.
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