Coalitional Games with Veto Players: Myopic and Rational Behavior
This paper studies a noncooperative allocation procedure for coali- tional games with veto players. The procedure is similar to the one presented by Dagan et al. (1997) for bankruptcy problems. According to it, a player, the proposer, makes a proposal that the remaining play-ers must accept or reject. We present a model where the proposer can make sequential proposals over n periods. If responders are myopic maximizers (i.e. consider each period in isolation), the only subgame perfect equilibrium outcome is the serial rule of Arin and Feltkamp (2012) regardless of the order of moves. If all players are rational, the serial rule still arises as the unique subgame perfect equilibrium outcome if the order of moves is such that stronger players must respond to the proposal after weaker ones.
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| Length: | |
| Date of creation: | Nov 2012 |
| Date of revision: | |
| Handle: | RePEc:not:notcdx:2012-11 |
| Contact details of provider: | Postal: School of Economics University of Nottingham University Park Nottingham NG7 2RD Phone: (44) 0115 951 5620 Fax: (0115) 951 4159 Web page: http://www.nottingham.ac.uk/economics/cedex/ More information through EDIRC
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References listed on IDEAS
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- Arin, J. & Feltkamp, V., 2007. "Coalitional games with veto players: Consistency, monotonicity and Nash outcomes," Journal of Mathematical Economics, Elsevier, vol. 43(7-8), pages 855-870, September.
- Peleg, B, 1986. "On the Reduced Game Property and Its Converse," International Journal of Game Theory, Springer;Game Theory Society, vol. 15(3), pages 187-200.
- Vincent Feltkamp & Javier Arin, 1997.
"The Nucleolus and Kernel of Veto-Rich Transferable Utility Games,"
International Journal of Game Theory,
Springer;Game Theory Society, vol. 26(1), pages 61-73.
- Arin, J. & Feltkamp, V., 1994. "The nucleolus and kernel of veto-rich transferable utility games," Discussion Paper 1994-40, Tilburg University, Center for Economic Research.
- Volij, Oscar & Dagan, Nir & Serrano, Roberto, 1997.
"A Non-Cooperative View of Consistent Bankruptcy Rules,"
Staff General Research Papers Archive
5130, Iowa State University, Department of Economics.
- 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.
- Nir Dagan & Roberto Serrano & Oscar Volij, 1997. "A Noncooperative View of Consistent Bankruptcy Rules," Economic theory and game theory 005, Nir Dagan.
- 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.
- Arin, J. & Feltkamp, V., 2012. "Coalitional games: Monotonicity and core," European Journal of Operational Research, Elsevier, vol. 216(1), pages 208-213.
- Moulin, Herve & Shenker, Scott, 1992. "Serial Cost Sharing," Econometrica, Econometric Society, vol. 60(5), pages 1009-37, September.
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