The Truncated Core for Games with Limited Aspirations

Luisa Carente, Balbina Casas-Mendez, Ignacio Carcia-Jurado and Anne van den Nouweland

No 1010, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: We define and study games with limited aspirations. In a game with limited aspirations there are upper bounds on the possible payoffs for some coalitions. These restrictions require adjustments in the definitions of solution concepts. In the current paper we study the effect of the restrictions on the core and define and study the so-called truncated core.

Keywords: games with limited aspirations; truncated core. (search for similar items in EconPapers)
JEL-codes: C44 C71 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2007
New Economics Papers: this item is included in nep-gth
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