Testable implications of the core in TU market games

Yasushi Agatsuma

Journal of Mathematical Economics, 2016, vol. 64, issue C, 23-29

Abstract: This paper clarifies testable implications of the core on allocation data in cooperative market games with transferable utility (TU market games). By employing the revealed preference approach, we provide a finite system of inequalities whose solvability is equivalent to an allocation data set to be consistent with the core of some TU market game. If initial endowment vectors are not observed, it turns out that the core rationalizability is equivalent to the Pareto rationalizability, that is, the core and Pareto optimality are observationally equivalent in TU market games.

Keywords: Testable implications; Core rationalization; Pareto rationalization; Market games; Revealed preference (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:64:y:2016:i:c:p:23-29

DOI: 10.1016/j.jmateco.2016.03.005

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