Sequential coalition formation and the core in the presence of externalities

László Kóczy ()

No 801, Working Paper Series from Óbuda University, Keleti Faculty of Business and Management

Abstract: The sequential coalition formation model of Bloch (1996) to solve cooperative games with externalities exhibits some anomalies when related to classical concepts. We elaborate on these problems, define a modification of Bloch's model and show that its order-independent equilibria coincide with the (pessimistic) recursive core.

Keywords: Core; externalities; sequential coalition formation; order-independent equilibria (search for similar items in EconPapers)
JEL-codes: C71 C72 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2006-02, Revised 2008-04
New Economics Papers: this item is included in nep-gth
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Citations:

Forthcoming in Games and Economic Behavior

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Related works:
Journal Article: Sequential coalition formation and the core in the presence of externalities (2009)
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