Abstract
Casajus (2008) established a link between coalition formation in hedonic games and players’ preferences over coalition structures. He showed that if a value concept for games with coalition structures (a CS-value) satisfies the splitting property and the aggregate component independence property, then the CS-value induces a hedonic game satisfying the common ranking property and yields a nonempty core. The following question was left open: What CS-values induce a hedonic game that does not satisfy the common ranking property but has a nonempty core? In this paper, we offer a set of properties that induces a hedonic game satisfying the top-coalition property, which is less demanding than the common ranking property but generates a nonempty core.
Original language | English |
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Article number | 109750 |
Journal | Economics Letters |
Volume | 200 |
DOIs | |
Publication status | Published - 2021 Mar |
Keywords
- Coalition formation
- Core
- Hedonic games
- Stability
ASJC Scopus subject areas
- Finance
- Economics and Econometrics