TY - JOUR
T1 - A note on solution concepts for nontransferable utility games
AU - Lejano, Raul P.
N1 - Copyright:
Copyright 2012 Elsevier B.V., All rights reserved.
PY - 2011/12
Y1 - 2011/12
N2 - While many game-theoretic solution concepts pertain to conditions of transferable utility (TU), market transactions and other exchanges generally occur under nontransferable utility (NTU). Extant solutions translate TU solution concepts to the NTU case by utilizing endogenously determined utility weight vectors, which can violate notions of equity. A new solution procedure is developed that resolves this longstanding problem, and an existence proof is provided.
AB - While many game-theoretic solution concepts pertain to conditions of transferable utility (TU), market transactions and other exchanges generally occur under nontransferable utility (NTU). Extant solutions translate TU solution concepts to the NTU case by utilizing endogenously determined utility weight vectors, which can violate notions of equity. A new solution procedure is developed that resolves this longstanding problem, and an existence proof is provided.
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U2 - 10.1016/j.jmateco.2011.10.001
DO - 10.1016/j.jmateco.2011.10.001
M3 - Article
AN - SCOPUS:84866270873
VL - 47
SP - 777
EP - 780
JO - Journal of Mathematical Economics
JF - Journal of Mathematical Economics
SN - 0304-4068
IS - 6
ER -