Coalitional stability in the location problem with single-dipped preferences: An application of the minimax theorem

Hirofumi Yamamura

Journal of Mathematical Economics, 2016, vol. 65, issue C, 48-57

Abstract: This study considers a situation in which agents choose the location of a public facility from a street according to a given mechanism. Agents have single-dipped preferences over a set of feasible locations. We analyze coalitional behavior for any given mechanism for this situation. We identify a necessary and sufficient condition for a mechanism to possess a strong Nash equilibrium by applying the minimax theorem of von Neumann and Morgenstern (1944). We introduce a class of core solutions and show that these solutions are characterized by strong Nash implementability. As a byproduct of these results, we propose a simple mechanism that implements any core solution in strong Nash equilibria.

Keywords: Single-dippedness; Strong Nash equilibrium; Minimax theorem; Core solution; Strong Nash implementation (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:65:y:2016:i:c:p:48-57

DOI: 10.1016/j.jmateco.2016.05.001

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