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Invariance with respect to re-evaluations of coalitional power

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  • de CLIPPEL, Geoffroy

Abstract

If x is a reasonable agreement in a game V , then so should it remain in the associated game Vx where the coalitions can buy up the cooperation of non-members by 'paying' them according to x. This new stability property called 'Invariance with respect to re-evaluations of coalitional power' (IRCP) allows to characterize the core as the largest solution specifying feasible allocations that are individually rational. In addition, a natural adaptation of IRCP allows to elegantly characterize the inner core for NTU games with convex and smooth feasible sets.

Suggested Citation

  • de CLIPPEL, Geoffroy, 2003. "Invariance with respect to re-evaluations of coalitional power," LIDAM Discussion Papers CORE 2003056, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:2003056
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    File URL: https://sites.uclouvain.be/core/publications/coredp/coredp2003.html
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    References listed on IDEAS

    as
    1. Geoffroy Clippel, 2003. "An axiomatization of the inner core," International Journal of Game Theory, Springer;Game Theory Society, vol. 31(4), pages 563-569, September.
    2. Serrano, Roberto & Volij, Oscar, 1998. "Axiomatizations of neoclassical concepts for economies," Journal of Mathematical Economics, Elsevier, vol. 30(1), pages 87-108, August.
    3. Tadenuma, K, 1992. "Reduced Games, Consistency, and the Core," International Journal of Game Theory, Springer;Game Theory Society, vol. 20(4), pages 325-334.
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    5. Aumann, Robert J, 1985. "An Axiomatization of the Non-transferable Utility Value," Econometrica, Econometric Society, vol. 53(3), pages 599-612, May.
    6. Peleg, Bezalel, 1985. "An axiomatization of the core of cooperative games without side payments," Journal of Mathematical Economics, Elsevier, vol. 14(2), pages 203-214, April.
    7. Thomson, W., 1996. "Consistent Allocation Rules," RCER Working Papers 418, University of Rochester - Center for Economic Research (RCER).
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    More about this item

    Keywords

    reduced game property; core; inner core;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games

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