A Note on the 'Corelessness' or Antibalance of Game,
Abstract
The characteristic function of market game has the special property that the game is totally balanced. Every one of the 2 to the n power minus 1 nonempty subgames which can be formed with the n players of an n-person market game has a core. No matter what groups are considered, there is always some set of imputations at which will gain and no other group can do better for its members. The core leaves room for the bargain where all subgroups can have their we can go it alone claims satisfied. When an economy with an efficient price system is modeled as a game, the resultant game is totally balanced. There appears to be an intimate relationship between the design of an economic mechanism that can be efficiently run by prices and totally balanced games. This document discusses corelessness or antibalance aspects.
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 27, 1983
- Accession Number
- ADA138951
Entities
People
- Martin Shubik
- S. Weber
Organizations
- Yale University