Core bound reduced games and consistency

Doudou Gong*, Bas Dietzenbacher

*Corresponding author for this work

Research output: Working paper / PreprintWorking paper

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Abstract

The lower and upper exact core bounds describe the minimum and maximum individual payoffs with in the core of a balanced game, respectively. Based on these bounds, we introduce lower and upper core bound reduced games and study the relation with other reduced games. We axiomatically characterize new solutions for balanced games as unique core bound consistent extensions of the classical two-player principles unanimity, standardness, and constrained egalitarianism. We name
these solutions core covers, equal gap values, and constrained equality values.
Original languageEnglish
Place of PublicationMaastricht
PublisherMaastricht University, Graduate School of Business and Economics
Number of pages18
DOIs
Publication statusPublished - 10 Mar 2025

JEL classifications

  • c71 - Cooperative Games

Keywords

  • core bound reduced games
  • core bound consistency
  • axiomatic analysis

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