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Demand Adjustment in Coalitional Games

Author

Listed:
  • Gerard van der Laan

    (Faculty of Economics and Business Administration, Vrije Universiteit Amsterdam)

  • Vitaly Pruzhansky

    (Faculty of Economics and Business Administration, Vrije Universiteit Amsterdam)

Abstract

This paper associates a strategic n-person game with a given transferable utility game and studies its Nash equilibria. Strict equilibria in this model characterize those divisions of social surplus that can become conventions in the sense of Young (1993). It is shown that even in relatively simple games various inefficiencies can arise.

Suggested Citation

  • Gerard van der Laan & Vitaly Pruzhansky, 2004. "Demand Adjustment in Coalitional Games," Tinbergen Institute Discussion Papers 04-121/1, Tinbergen Institute.
    • Handle: RePEc:tin:wpaper:20040121
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    File URL: https://papers.tinbergen.nl/04121.pdf
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    More about this item

    Keywords

    Aspirations; bargaining set; core; von Neumann-Morgenstern vector; stable set;
    All these keywords.

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General

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