Stationary consistent equilibrium coalition structures constitute the recursive core
We study coalitional games where the proceeds from cooperation depend on the entire coalition structure. The coalition structure core (Kóczy, GEB, 2007) is a generalisation of the coalition structure core for such games. We introduce a noncooperative, sequential coalition formation model and show that the set of equilibrium outcomes coincides with the recursive core. In order to extend past results to games that are not totally balanced (understood in this special setting) we introduce subgame-consistency that requires perfectness in relevant subgames only, while subgames that are never reached are ignored.
|Date of creation:||Aug 2009|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.kgk.uni-obuda.hu
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sang-Seung, Yi, 1996. "Endogenous formation of customs unions under imperfect competition: open regionalism is good," Journal of International Economics, Elsevier, vol. 41(1-2), pages 153-177, August.
- Muthoo, Abhinay, 1990. "Bargaining without commitment," Games and Economic Behavior, Elsevier, vol. 2(3), pages 291-297, September.
- Huang, Chen-Ying & Sjostrom, Tomas, 2003. "Consistent solutions for cooperative games with externalities," Games and Economic Behavior, Elsevier, vol. 43(2), pages 196-213, May.
- Perry, Motty & Reny, Philip J, 1994.
"A Noncooperative View of Coalition Formation and the Core,"
Econometric Society, vol. 62(4), pages 795-817, July.
- Perry, M. & Rany, P., 1992. "A Non-Cooperative View of Coalition Formation and the Core," UWO Department of Economics Working Papers 9203, University of Western Ontario, Department of Economics.
- Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-91, June.
- Ray, Debraj & Vohra, Rajiv, 1997.
"Equilibrium Binding Agreements,"
Journal of Economic Theory,
Elsevier, vol. 73(1), pages 30-78, March.
- Yukihiko Funaki & Takehiko Yamato, 1999. "The core of an economy with a common pool resource: A partition function form approach," International Journal of Game Theory, Springer, vol. 28(2), pages 157-171.
- CHANDER, Parkash & TULKENS, Henry, 1994.
"A Core-Theoretic Solution for the Design of Cooperative Agreements on Transfrontier Pollution,"
CORE Discussion Papers
1994048, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Parkash Chander & Henry Tulkens, 1995. "A core-theoretic solution for the design of cooperative agreements on transfrontier pollution," International Tax and Public Finance, Springer, vol. 2(2), pages 279-293, August.
- Chander, Parkash & Tulkens, Henry, 1994. "A Core-Theoretic Solution for the Design of Cooperative Agreements on Transfrontier Pollution," Working Papers 897, California Institute of Technology, Division of the Humanities and Social Sciences.
- Fershtman, C., 1988.
"Fixed Rules And Decision Rules: Time Consistency And Subgame Perfection,"
12-88, Tel Aviv.
- Fershtman, Chaim, 1989. "Fixed rules and decision rules : Time consistency and subgame perfection," Economics Letters, Elsevier, vol. 30(3), pages 191-194, September.
- Kóczy, László Á., 2009.
"Sequential coalition formation and the core in the presence of externalities,"
Games and Economic Behavior,
Elsevier, vol. 66(1), pages 559-565, May.
- László Á. Kóczy, 2006. "Sequential coalition formation and the core in the presence of externalities," Working Paper Series 0801, Óbuda University, Keleti Faculty of Business and Management, revised Apr 2008.
- Kóczy Lászlo Á., 2006. "Sequential Coalition Formation and the Core in the Presence of Externalities," Research Memorandum 047, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Chen Ying Huang & Tomas Sjostrom, 2005.
"Implementation of the Recursive Core for Partition Function Form Games,"
Economics Working Papers
0052, Institute for Advanced Study, School of Social Science.
- Huang, Chen-Ying & Sjostrom, Tomas, 2006. "Implementation of the recursive core for partition function form games," Journal of Mathematical Economics, Elsevier, vol. 42(6), pages 771-793, September.
- Ray, Debraj, 2007. "A Game-Theoretic Perspective on Coalition Formation," OUP Catalogue, Oxford University Press, number 9780199207954.
- Shapley, Lloyd S. & Shubik, Martin, 1969. "On market games," Journal of Economic Theory, Elsevier, vol. 1(1), pages 9-25, June.
- Kyle Hyndman & Debraj Ray, 2007. "Coalition Formation with Binding Agreements," Review of Economic Studies, Oxford University Press, vol. 74(4), pages 1125-1147.
- Chatterjee, Kalyan & Bhaskar Dutta & Debraj Ray & Kunal Sengupta, 1993. "A Noncooperative Theory of Coalitional Bargaining," Review of Economic Studies, Wiley Blackwell, vol. 60(2), pages 463-77, April.
- Eyckmans, Johan & Tulkens, Henry, 2003.
"Simulating coalitionally stable burden sharing agreements for the climate change problem,"
Resource and Energy Economics,
Elsevier, vol. 25(4), pages 299-327, October.
- EYCKMANS, Johan & TULKENS, Henry, 1999. "Simulating coalitionally stable burden sharing agreements for the climate change problem," CORE Discussion Papers 1999026, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Chen-Ying Huang & Tomas Sjöström, 2010. "The Recursive Core for Non-Superadditive Games," Games, MDPI, Open Access Journal, vol. 1(2), pages 66-88, April.
- Francis Bloch, 1995. "Endogenous Structures of Association in Oligopolies," RAND Journal of Economics, The RAND Corporation, vol. 26(3), pages 537-556, Autumn.
- Asilis, Carlos M., 1995. "A note on the equivalence of time consistency and subgame perfection in stochastic games," European Economic Review, Elsevier, vol. 39(2), pages 245-251, February.
When requesting a correction, please mention this item's handle: RePEc:pkk:wpaper:0905. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alexandra Vécsey)
If references are entirely missing, you can add them using this form.