A core allocation of a complete information economy can be characterized as one that would not be unanimously rejected in favor of another feasible alternative by any coalition. We use this test of coalitional voting in an incomplete information environment to formalize a notion of resilience. Since information transmission is implicit in the Bayesian equilibria of such voting games, this approach makes it possible to derive core concepts in which the transmission of information among members of a coalition is endogenous. Our results lend support to the credible core of Dutta and Vohra [Incomplete information, credibility and the core, Math. Soc. Sci. 50 (2005) 148-165] and the core proposed by Myerson [Virtual utility and the core for games with incomplete information, Mimeo, University of Chicago, 2005] as two that can be justified in terms of coalitional voting. (c) 2006 Elsevier Inc. All rights reserved.
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Indian Inst Technol, Dept Management Studies, Madras 600036, Tamil Nadu, IndiaIndian Inst Technol, Dept Management Studies, Madras 600036, Tamil Nadu, India
Tripathi, Rajeev R.
Amit, R. K.
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Indian Inst Technol, Dept Management Studies, Madras 600036, Tamil Nadu, IndiaIndian Inst Technol, Dept Management Studies, Madras 600036, Tamil Nadu, India
机构:
Tilburg Univ, CentER, NL-5000 LE Tilburg, Netherlands
Tilburg Univ, Dept Econometr & Operat Res, NL-5000 LE Tilburg, NetherlandsTilburg Univ, CentER, NL-5000 LE Tilburg, Netherlands
Borm, Peter
Ju, Yuan
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Univ York, Dept Econ & Related Studies, York YO10 5DD, N Yorkshire, EnglandTilburg Univ, CentER, NL-5000 LE Tilburg, Netherlands
Ju, Yuan
Wettstein, David
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Ben Gurion Univ Negev, Dept Econ, IL-84105 Beer Sheva, IsraelTilburg Univ, CentER, NL-5000 LE Tilburg, Netherlands