The consistency principle and an axiomatization of the -core

Koji Takamiya ()
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Koji Takamiya: Graduate School of Economics and Business Administration, Hokkaido University, Kita9 Nishi7 Sapporo 060-0809 Japan

International Journal of Game Theory, 2001, vol. 30, issue 2, 195-207

Abstract: This paper examines the -core of strategic games by means of the consistency principle. I provide a new definition of a reduced game for strategic games. And I define consistency (CONS) and two forms of converse consistency (COCONS and COCONS*) under this definition of reduced games. Then I axiomatize the -core for families of strategic games with bounded payoff functions by the axioms CONS, COCONS*, weak Pareto optimality (WPO) and one person rationality (OPR). Furthermore, I show that these four axioms are logically independent. In proving this, I also axiomatize the -individually rational solution by CONS, COCONS and OPR for the same families of games. Here the -individually rational solution is a natural extension of the classical `maximin' solution.

Keywords: axiomatization; ·; reduced; game; ·; consistency; ·; converse; consistency; · (search for similar items in EconPapers)
JEL-codes: C71 C72 (search for similar items in EconPapers)
Date: 2001-12-17
Note: Received: June 1998/Final version: 6 July 2001
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Citations: View citations in EconPapers (1)

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