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Core equivalence theorems for infinite convex games

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  • Einy, Ezra
  • Holzman, Ron
  • Monderer, Dov
  • Shitovitz, Benyamin

Abstract

We show that the core of a continuous convex game on a measurable space of players is a von Neumann-Morgenstern stable set. We also extend the definition of the Mas-Colell bargaining set to games with a measurable space of players, and show that for continuous convex games the core may be strictly included in the bargaining set but it coincides with the set of all countably additive payoff measures in the bargaining set. We provide examples which show that the continuity assumption is essential to our results.

Suggested Citation

  • Einy, Ezra & Holzman, Ron & Monderer, Dov & Shitovitz, Benyamin, 1996. "Core equivalence theorems for infinite convex games," UC3M Working papers. Economics 3965, Universidad Carlos III de Madrid. Departamento de Economía.
    • Handle: RePEc:cte:werepe:3965
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    References listed on IDEAS

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    1. DELBAEN, Freddy, 1974. "Convex games and extreme points," LIDAM Reprints CORE 159, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. Dutta, Bhaskar & Ray, Debraj & Sengupta, Kunal & Vohra, Rajiv, 1989. "A consistent bargaining set," Journal of Economic Theory, Elsevier, vol. 49(1), pages 93-112, October.
    3. Demange, Gabrielle, 1987. "Nonmanipulable Cores," Econometrica, Econometric Society, vol. 55(5), pages 1057-1074, September.
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    Cited by:

    1. Dov Monderer & Ezra Einy & Diego Moreno, 1998. "The least core, kernel and bargaining sets of large games," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(3), pages 585-601.
    2. Einy, Ezra & Holzman, Ron & Monderer, Dov, 1999. "On the Least Core and the Mas-Colell Bargaining Set," Games and Economic Behavior, Elsevier, vol. 28(2), pages 181-188, August.

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