Laws of scarcity for a finite game - exact bounds on estimations

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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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
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
ISSN (Online):1432-0479

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