×

Finite convergence of the core in a piecewise linear market game. (English) Zbl 0876.90027

Albers, Wulf (ed.) et al., Understanding strategic interaction. Essays in honor of Reinhard Selten. Berlin: Springer. 286-304 (1996).
Summary: We consider a pure exchange economy or “market” such that every player/agent has piecewise linear utilities. The resulting NTU-market game is a piecewise linear correspondence. Using a version of “nondegeneracy” for games in characteristic function form, we exhibit conditions to ensure the finite convergence of the core towards the Walrasian equilibrium.
For the entire collection see [Zbl 0866.00071].

MSC:

91B50 General equilibrium theory
91A12 Cooperative games