Supplement to Stable Farsighted Coalitions in Competitive Markets - Technical Appendix
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Stable Farsighted Coalitions in Competitive Markets
In this paper, we study dynamic alliance formation among price setting agents in a competitive market. We look at n agents selling substitutable products competing (price) in a market. We propose a two-stage game: in Stage 1, agents form alliances (coalitions), and in Stage 2, coalitions set prices and compete against each other. Stage 2 is modelled as a noncooperative competitive game characte...
متن کاملMaximality in the Farsighted Stable Set
The stable set of von Neumann and Morgenstern imposes credibility on coalitional deviations. Their credibility notion can be extended to cover farsighted coalitional deviations, as proposed by Harsanyi (1974), and more recently reformulated by Ray and Vohra (2015). However, the resulting farsighted stable set suffers from a conceptual drawback: while coalitional deviations improve on existing o...
متن کاملFarsighted House Allocation
In this note we study von Neumann-Morgenstern farsightedly stable sets for Shapley and Scarf (1974) housing markets. Kawasaki (2008) shows that the set of competitive allocations coincides with the unique von Neumann-Morgenstern stable set based on a farsighted version of antisymmetric weak dominance (cf., Wako, 1999). We demonstrate that the set of competitive allocations also coincides with t...
متن کاملDynamic farsighted stability∗
We study farsighted stability under the assumption that coalitions may condition actions on the history of the play. vNM stable set over possible play paths is defined with respect to the indirect dominance relation. We show that such dynamic stable set always exists. It is characterized by a generalization of the ultimate uncovered set. In unbounded agenda setting context, the dynamic stable s...
متن کاملRational expectations and farsighted stability
In the study of farsighted coalitional behavior, a central role is played by the von Neumann-Morgenstern (1944) stable set and its modification that incorporates farsightedness. Such a modification was first proposed by Harsanyi (1974) and has recently been re-formulated by Ray and Vohra (2015). The farsighted stable set is based on a notion of indirect dominance in which an outcome can be domi...
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تاریخ انتشار 2005