Arbeitspapier
Stationary Consistent Equilibrium Coalition Structures Constitute the Recursive Core
We study coalitional games where the coalitional payoffs depend on the entire coalition structure. We introduce a noncooperative, sequential coalition formation model and show that the set of equilibrium outcomes coincides with the recursive core, a generalisation of the core to such games. In order to extend past results limited to totally recursive-balanced partition function form games we introduce subgame-consistency that requires perfectness in relevant subgames only, while some unreached subgames are ignored. Due to the externalities, the profitability of deviations depends on the partition formed by the remaining players: the stability of core payoff configurations is ensured by a combination of the pessimism of players going for certain profits only and the assumption that players base their stationary strategies on a made-up history punishing some of the possible deviators - and getting this sometimes right.
- ISBN
-
978-615-5243-28-8
- Sprache
-
Englisch
- Erschienen in
-
Series: IEHAS Discussion Papers ; No. MT-DP - 2012/26
- Klassifikation
-
Wirtschaft
Cooperative Games
Noncooperative Games
- Thema
-
partition function
externalities
implementation
recursive core
stationary perfect equilibrium
time consistent equilibrium
Koalition
Spieltheorie
Core
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kóczy, László Á.
- Ereignis
-
Veröffentlichung
- (wer)
-
Hungarian Academy of Sciences, Institute of Economics, Centre for Economic and Regional Studies
- (wo)
-
Budapest
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Kóczy, László Á.
- Hungarian Academy of Sciences, Institute of Economics, Centre for Economic and Regional Studies
Entstanden
- 2012
Ähnliche Objekte (12)
Stationary consistent equilibrium coalition structures constitute the recursive core
e-Consistent Equilibrium
Are German stock and bond returns consistent with equilibrium asset pricing? A calibration exercise using recursive non-expected utility
Recursive equilibrium in endogenous growth models with incomplete markets
A Class of Consistent Share Functions for Games in Coalition Structure
A simple unit root test consistent against any stationary alternative
Digital Scrapbook – can we enable interlinked and recursive knowledge equilibrium?
Uniqueness of stationary equilibrium payoffs in coalitional bargaining
Thermodynamically consistent equilibrium properties of normal-liquid 3He
Recursive Functions
Incorporating Theory-Consistent Endogenous Markups into Applied General-Equilibrium Models
Thermodynamically consistent evaluation of equilibrium properties of normal-liquid 3He
Stationary consistent equilibrium coalition structures constitute the recursive core
e-Consistent Equilibrium
Are German stock and bond returns consistent with equilibrium asset pricing? A calibration exercise using recursive non-expected utility
Recursive equilibrium in endogenous growth models with incomplete markets
A Class of Consistent Share Functions for Games in Coalition Structure
A simple unit root test consistent against any stationary alternative
Digital Scrapbook – can we enable interlinked and recursive knowledge equilibrium?
Uniqueness of stationary equilibrium payoffs in coalitional bargaining
Thermodynamically consistent equilibrium properties of normal-liquid 3He
Recursive Functions
Incorporating Theory-Consistent Endogenous Markups into Applied General-Equilibrium Models
Thermodynamically consistent evaluation of equilibrium properties of normal-liquid 3He
Stationary consistent equilibrium coalition structures constitute the recursive core
e-Consistent Equilibrium
Are German stock and bond returns consistent with equilibrium asset pricing? A calibration exercise using recursive non-expected utility
Recursive equilibrium in endogenous growth models with incomplete markets
A Class of Consistent Share Functions for Games in Coalition Structure
A simple unit root test consistent against any stationary alternative
Digital Scrapbook – can we enable interlinked and recursive knowledge equilibrium?
Uniqueness of stationary equilibrium payoffs in coalitional bargaining
Thermodynamically consistent equilibrium properties of normal-liquid 3He
Recursive Functions
Incorporating Theory-Consistent Endogenous Markups into Applied General-Equilibrium Models