Kovalenkov, A. and Wooders, M. (2005) Laws of scarcity for a finite game - exact bounds on estimations. Economic Theory, 26(2), pp. 383-396. (doi: 10.1007/s00199-003-0443-7)
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Publisher's URL: http://dx.doi.org/10.1007/s00199-003-0443-7
Abstract
A ldquolaw of scarcityrdquo is that scarceness is rewarded. We demonstrate laws of scarcity for cores and approximate cores of games. Furthermore, we show that equal treatment core payoff vectors satisfy a condition of cyclic monotonicity. Our results are developed for parameterized collections of games and exact bounds on the maximum possible deviation of approximate core payoff vectors from satisfying a law of scarcity are stated in terms of the parameters describing the games. We note that the parameters can, in principle, be estimated.
| Item Type: | Articles |
|---|---|
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | Kovalenkov, Dr Alexander |
| Authors: | Kovalenkov, A., and Wooders, M. |
| College/School: | College of Social Sciences > Adam Smith Business School > Economics |
| Journal Name: | Economic Theory |
| Publisher: | Springer |
| ISSN: | 0938-2259 |
| ISSN (Online): | 1432-0479 |
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