Consider the market with transferable payoff like that of, Ask an Expert

Economics

Consider the market with transferable payoff like that of the previous example in which there are five agents, w1 = w2 = (2, 0), and w3 = w4 = w5 = (0,1).

a. Find the coalitional form of this market and calculate the core.

b. Suppose that agents 3, 4, and 5 form a syndicate: they enter coalitions only as a block, so that we have a three-player game. Does the core predict that the formation of the syndicate benefits its members?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91590049

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