Epsilon cores of games and economies with limited side payments

Alexander Kovalenkov and Myrna Wooders

No 269257, Economic Research Papers from University of Warwick - Department of Economics

Abstract: We introduce the concept of a parameterized collection of games with limited side payments, ruling out large transfers of utility. Under the assumption that the payo® set of the grand coalition is convex, we show that a game with limited side payments has a nonempty "-core. Our main result is that, when some degree of side-paymentness within nearly-e®ective small groups is assumed, then all payo®s in the "-core treat similar players similarly. A bound on the distance between "-core payo®s of any two similar players is given in terms of the parameters describing the game. These results add to the literature showing that games with many players and small e®ective groups have the properties of competitive markets.

Keywords: Agricultural and Food Policy; Research Methods/ Statistical Methods (search for similar items in EconPapers)
Pages: 23
Date: 1999-05-05
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Related works:
Working Paper: Epsilon cores of games and economies with limited side payments (2000)
Working Paper: Epsilon cores of games and economies with limited side payments (1999)
Working Paper: Epsilon Cores of Games and Economies With Limited Side Payments (1997)
Working Paper: Epsilon cores of games and economies with limited side payments (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uwarer:269257

DOI: 10.22004/ag.econ.269257

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