(Sophisticated) stable sets in exchange economies (Q700126): Difference between revisions
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Revision as of 00:04, 20 March 2024
scientific article
| Language | Label | Description | Also known as |
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| English | (Sophisticated) stable sets in exchange economies |
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(Sophisticated) stable sets in exchange economies (English)
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30 September 2002
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Given a pure exchange economy, two spaces can be considered -- the allocation space and its corresponding utility space. The authors demonstrate that the von Neumann and Morgenstern stable set in the allocation space may differ from that in the corresponding utility space. They define a sophicated version of the von Neumann and Morgenstern stable set by following Harsanyi's idea and show that the solution with respect to these two spaces coincide.
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von Neumann-Morgenstern stable set
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NTU games
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pure exchange economy
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