Coalitions with limited coordination
研究了市场结构下联盟只能在各自市场内形成、无法跨市场协调的经济体,提出了连接不同市场核心的均衡概念,并给出了存在性结果及在不对称信息经济中的应用。
Abstract We study economies endowed with a market structure, where coalitions can form within each market but have no enforcement possibilities across markets. A standard cooperative game cannot be defined in this case. We develop a certain equilibrium notion which ties together the cores of the different markets. We provide an existence result and an application to economies with asymmetric information.