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.
these solutions core covers, equal gap values, and constrained equality values.
Original language | English |
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Place of Publication | Maastricht |
Publisher | Maastricht University, Graduate School of Business and Economics |
Number of pages | 18 |
DOIs | |
Publication status | Published - 10 Mar 2025 |
JEL classifications
- c71 - Cooperative Games
Keywords
- core bound reduced games
- core bound consistency
- axiomatic analysis