Axiomatizing core extensions

Axiomatizing core extensions

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Article ID: iaor20128254
Volume: 41
Issue: 4
Start Page Number: 885
End Page Number: 898
Publication Date: Nov 2012
Journal: International Journal of Game Theory
Authors: ,
Abstract:

We give an axiomatization of the aspiration core on the domain of all TU‐games using a relaxed feasibility condition, non‐emptiness, individual rationality, and generalized versions of the reduced game property (consistency) and superadditivity. Our axioms also characterize the C‐core (Guesnerie and Oddou, 1979; Sun et al., 2008) and the core on appropriate subdomains. The main result of the paper generalizes Peleg’s (1985) core axiomatization to the entire family of TU‐games.

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