Bargaining sets in exchange economies with indivisibilities and money

DOI10.1007/S00182-005-0202-ZMaRDI QIDQ2487970zbMATH OpenOpenAlexFDO

Authors M. A. Meertens, J. H. Reijnierse, Jos Potters

Publication date 17 August 2005

Published in International Journal of Game Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s00182-005-0202-z

zbMATH Keywords

coreindivisible goodsreactive and semireactive bargaining set

Mathematics Subject Classification ID

Cooperative games (91A12) Auctions, bargaining, bidding and selling, and other market models (91B26) Special types of economic markets (including Cournot, Bertrand) (91B54)

Review text

In exchange economies with \(N\) agents, a finite set of indivisible goods and one perfectly divisible good (money) the authors study solution concepts (different kinds of bargaining sets) known from theory of cooperative games. Under conditions they dicuss non-voidness of the introduced solution sets and relations between properties (coincidence of bargaining sets and cores) of the considered economies and associated games. Interesting examples check the stated conditions. So e.g., it is shown that the quasilinearity of the utility functions, representing the preference relations of agents, cannot be omitted in order to guarantee non-voidness as spoken about above.

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