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Approximate Cores Of Games And Economies With Clubs

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  • Kovalenkov, Alexander

    (Department of Economics, University of North Carolina)

  • Wooders, Myrna Holtz

    (Department of Economics, University of Warwick)

Abstract

We introduce the framework of parameterized collections of games with and without sidepayments and provide three nonemptiness of approximate core theorems. The parameters bound (a) the number of approximate types of players and the size of the approximation and (b) the size of nearly effective groups of players and their distance from exact effectiveness. Our theorems are based on a new notion of partitionbalanced profiles and approximately partition-balanced profiles. The results are applied to a new model of an economy with clubs. In contrast to the extant literature, our approach allows both widespread externalities and uniform results.

Suggested Citation

  • Kovalenkov, Alexander & Wooders, Myrna Holtz, 2002. "Approximate Cores Of Games And Economies With Clubs," The Warwick Economics Research Paper Series (TWERPS) 634, University of Warwick, Department of Economics.
  • Handle: RePEc:wrk:warwec:634
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    More about this item

    Keywords

    cooperative games ; clubs ; approximate cores ; effective small groups ; parameterized collections of games ; NTU games;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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