Feasibility-free axiomatization of the core and its non-empty extension

Camelia Bejan, Juan Camilo Gómez and Anne van den Nouweland

Economics Letters, 2021, vol. 201, issue C

Abstract: The paper illustrates a new methodology for deriving the feasibility constraints of the core and the aspiration core, a non-empty core-extension, from other axioms. The two solution concepts differ only in the implicit rules that govern coalition formation. Our characterizations derive those different rules from familiar axioms.

Keywords: Feasibility; Non-emptiness; Axiomatization; Core; Aspiration core; Consistency; Independence of irrelevant alternatives; Resource monotonicity (search for similar items in EconPapers)
JEL-codes: C71 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:201:y:2021:i:c:s0165176521000562

DOI: 10.1016/j.econlet.2021.109779

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