Abstract:
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In this paper we study the equity core (Selten, 1978) and compare it with the core. A
payo vector is in the equity core if no coalition can divide its value among its members
proportionally to a given weight system and, in this way, give more to each member than the
amount he or she receives in the payo vector. We show that the equity core is a compact
extension of the core and that, for non-negative games, the intersection of all equity cores
with respect to all weights coincides with the core of the game.
Keywords: Cooperative game, equity core, equal division core, core.
JEL classi cation: C71 |