Accession Number : ADA138951

Title :   A Note on the 'Corelessness' or Antibalance of Game,

Corporate Author : YALE UNIV NEW HAVEN CT COWLES FOUNDATION FOR RESEARCH IN ECONOMICS

Personal Author(s) : Shubik,M ; Weber,S

PDF Url : ADA138951

Report Date : 27 Sep 1983

Pagination or Media Count : 18

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.

Descriptors :   *Game theory, *Economic models, *Marketing, Costs, Economics, Symmetry, Political science

Subject Categories : Economics and Cost Analysis
      Numerical Mathematics

Distribution Statement : APPROVED FOR PUBLIC RELEASE