STABILITY AND ALLOCATION IN A THREE-PLAYER GAME

Leqin Wu (), Xin Chen (), Ye Lu () and Ya-Xiang Yuan ()
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Leqin Wu: Institute of Computational Mathematics and Scientific/Engineering Computing, Chinese Academy of Sciences, Beijing, China
Xin Chen: Department of Industrial and Enterprise Systems Engineering, University of Illinois at Urbana-Champaign, Illinois, USA
Ye Lu: Department of Management Science, City University of Hong Kong, Kowloon Tong, Hong Kong
Ya-Xiang Yuan: Institute of Computational Mathematics and Scientific/Engineering Computing, Chinese Academy of Sciences, Beijing, China

Asia-Pacific Journal of Operational Research (APJOR), 2013, vol. 30, issue 03, 1-23

Abstract: We study a three-player cooperative game with transferable utility where the players may form different coalition structures. A new concept of stability of a coalition is introduced, and the existence of a stable coalition is proven. Based on this stability concept, a novel approach is given to determine sensible allocations in a grand coalition of three players. We also compare our result with classical core solution and implement our theory on a specific price model.

Keywords: Stability; cooperative game; three-player game (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1142/S0217595913400149

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