Suchergebnisse

There is a formal equivalence between games, societies, & economies. Lindahl equilibrium for a game or society corresponds to competitive equilibrium for the equivalent economy. Results on existence & optimality of competitive equilibrium thus apply to the theory of games & societies. The "core" for a game or society, as derived by extension from the core of an economy, is "too large" to be interesting. An example illustrates that the a-core may be disjoint from the set of Lindahl equilibria; however, if the power of coalitions to inflict negative externalities is suitably restricted, Lindahl equilibria must be in the a-core. 2 Figures. HA.