A non-cooperative axiomatization of the core

Okada, A. and Winter, E. (2002) A non-cooperative axiomatization of the core. Theory and Decision, 53 (1). pp. 1-28. ISSN 0040-5833

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We treat a class of multi-person bargaining mechanisms based on games in coalitional form. For this class of games we identify properties of non-cooperative solution concepts, which are necessary and sufficient for the equilibrium outcomes to coincide with the core of the underlying coalitional form game. We view this result as a non-cooperative axiomatization of the core. In contrast to most of the literature on multi-person bargaining we avoid a precise specification of the rules of the game. Alternatively, we impose properties of such games, which give rise to a large class of mechanisms, all of which are relevant for our axiomatization.

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Journal Article
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Theory and Decision
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14 Aug 2018 13:20
Last Modified:
29 Jan 2021 17:57