Pedro Calleja , Francesc Llerena , Peter Sudhölter
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Self-consistency for multi-valued solutions and reasonable outcomes
We explore the compatibility of uniform self-consistency and ordinary self-consistency, two extensions for handling multi-valued solutions within the consistency principle introduced by Hart and Mas-Colell (1989), with basic properties, such as reasonableness, which establishes bounds for payoffs based on the marginality principle. Our analysis focuses on convex games and balanced games through the study of almost positive games, a subset of convex games that plays a crucial role in the vector lattice structure of games. Further, we provide new axiomatic foundations of the core incorporating these consistency properties.
期刊介绍:
The primary objective of the Journal is to provide a forum for work in economic theory which expresses economic ideas using formal mathematical reasoning. For work to add to this primary objective, it is not sufficient that the mathematical reasoning be new and correct. The work must have real economic content. The economic ideas must be interesting and important. These ideas may pertain to any field of economics or any school of economic thought.