TY - JOUR
T1 - The Asymptotic Nucleolus of Large Monopolistic Market Games
AU - Einy, Ezra
AU - Moreno, Diego
AU - Shitovitz, Benyamin
N1 - Funding Information:
1We thank a referee for helpful comments. Part of this work was done while Einy and Shitovitz visited the Department of Economics of Universidad Carlos III de Madrid. Einy acknowledges the financial support of the Universidad Carlos III de Madrid. Shitovitz acknowledges the support of the Spanish Ministry of Education, Grant SAB98-0059. Moreno acknowledges the support of the Spanish Ministry of Education (DGICYT), Grant PB96-0118.
PY - 1999/12/1
Y1 - 1999/12/1
N2 - We study the asymptotic nucleolus of differentiable monopolistic market games in continuum economies with a finite number of traders' types, and show that, under appropriate assumptions, it is the center of symmetry of the subset of the core in which all the monopolists receive the same payoff. Thus, the nucleolus discriminates the traders in the atomless sector, whereas the competitive equilibrium does not. Moreover, if there is a single syndicated atom and a finite number of atomless sectors, the syndicate is treated more favorably under the asymptotic nucleolus than under the Shapley value associated with the pure monopolistic market. Journal of Economic Literature Classification Numbers: C71, D40.
AB - We study the asymptotic nucleolus of differentiable monopolistic market games in continuum economies with a finite number of traders' types, and show that, under appropriate assumptions, it is the center of symmetry of the subset of the core in which all the monopolists receive the same payoff. Thus, the nucleolus discriminates the traders in the atomless sector, whereas the competitive equilibrium does not. Moreover, if there is a single syndicated atom and a finite number of atomless sectors, the syndicate is treated more favorably under the asymptotic nucleolus than under the Shapley value associated with the pure monopolistic market. Journal of Economic Literature Classification Numbers: C71, D40.
UR - http://www.scopus.com/inward/record.url?scp=0038398255&partnerID=8YFLogxK
U2 - 10.1006/jeth.1999.2575
DO - 10.1006/jeth.1999.2575
M3 - Article
AN - SCOPUS:0038398255
VL - 89
SP - 186
EP - 206
JO - Journal of Economic Theory
JF - Journal of Economic Theory
SN - 0022-0531
IS - 2
ER -