On cooperative games related to market situations and auctions

R. Brânzei, V. Fragnelli, A. Meca, S.H. Tijs

Research output: Contribution to journalArticleScientificpeer-review

5 Citations (Scopus)

Abstract

We consider a market situation with two corners. One corner consists of a single seller with one object, and the other corner consists of potential buyers who all want the object. We suppose that the valuations of the object for the different buyers are known by all of them. Then two types of cooperative games, which we call market games and ring games, corresponding to such market situations are considered.

Market games are related to special total big boss games, while ring games are related to special convex games, the peer group games. It turns out that there exists a duality relation between the market game and the ring game arising from the same two-corner market situation. For both classes of games relevant solution concepts are studied.
Original languageEnglish
Pages (from-to)459-470
JournalInternational Game Theory Review
Volume11
Issue number4
Publication statusPublished - 2009

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    Brânzei, R., Fragnelli, V., Meca, A., & Tijs, S. H. (2009). On cooperative games related to market situations and auctions. International Game Theory Review, 11(4), 459-470.