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Approximate cores of games and economies with clubs

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  • Kovalenkov, Alexander
  • Wooders, Myrna Holtz

Abstract

We introduce the framework of parameterized collections of games with and without sidepayments and provide three nonemptiness of approximate core theorems for games in parameterized collections. The parameters bound (a) the number of approximate types of players and the size of the approximation and (b) the size of nearly e®ective groups of players and their distance from exact e®ectiveness. The theorems are based on a new notion of partition-balanced pro¯les and approximately partition-balanced pro¯les. 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.

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  • Kovalenkov, Alexander & Wooders, Myrna Holtz, 2001. "Approximate cores of games and economies with clubs," Economic Research Papers 269256, University of Warwick - Department of Economics.
    • Handle: RePEc:ags:uwarer:269256
    DOI: 10.22004/ag.econ.269256
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    More about this item

    Keywords

    Agricultural and Food Policy; Institutional and Behavioral Economics;

    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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