The core of a class of non-atomic games which arise in economic applications

Ezra Einy and Benyamin Shitovitz
Authors registered in the RePEc Author Service: Diego Moreno ()

UC3M Working papers. Economics from Universidad Carlos III de Madrid. Departamento de Economía

Abstract: We prove a representation theorem for the core of a non-atomic game of the form v = fOil, where Il is a finite dimensional vector of non-atomic measures and f is a non-decreasing continuous concave function on the range of Il. The theorem is stated in terms of the sub gradients of the function f. As a consequence of this theorem we show that the game v is balanced (i. e., has a non-empty core) iff the function f is homogeneous of degree one along the diagonal of the range of Il, and it is totally balanced (i.e., every subgame of v has a non-empty core) iff the function f is homogeneous of degree one in the entire range of Il. We also apply our results to some non-atomic games which occur in economic applications.

Keywords: Non-atomic; games; Market; games; Core (search for similar items in EconPapers)
Date: 1997-02
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Journal Article: The core of a class of non-atomic games which arise in economic applications (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:cte:werepe:6024

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