Axiomatizing core extensions

We give an axiomatization of the aspiration core on the domain of all TU-games using a relaxed feasibility condition, non-emptiness, individual rationality, and generalized versions of the reduced game property (consistency) and superadditivity. Our axioms also characterize the C-core (Guesnerie and...

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Veröffentlicht in:International journal of game theory 2012-11, Vol.41 (4), p.885-898
Hauptverfasser: Bejan, Camelia, Gómez, Juan Camilo
Format: Artikel
Sprache:eng
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Zusammenfassung:We give an axiomatization of the aspiration core on the domain of all TU-games using a relaxed feasibility condition, non-emptiness, individual rationality, and generalized versions of the reduced game property (consistency) and superadditivity. Our axioms also characterize the C-core (Guesnerie and Oddou, Econ Lett 3(4):301–306, 1979 ; Sun et al. J Math Econ 44(7–8):853–860, 2008 ) and the core on appropriate subdomains. The main result of the paper generalizes Peleg’s (J Math Econ 14(2):203–214, 1985 ) core axiomatization to the entire family of TU-games.
ISSN:0020-7276
1432-1270
DOI:10.1007/s00182-011-0316-4