A bankruptcy problem and an information trading problem: Applictions to k-convex games

Theo Driessen

Research output: Contribution to journalArticleAcademicpeer-review

5 Citations (Scopus)
126 Downloads (Pure)

Abstract

The paper is devoted to two real problems that generate a cooperative game model with a so-calledk-convex characteristic function when certain conditions are fulfilled. Both a bankruptcy problem and an information trading problem are modelled as a cooperative game by constructing the corresponding bankruptcy game as well as the information market game. Firstly, it is established that the bankruptcy game is ak-convexn-person game where 1 ≤k ≤n − 2 if and only if the estate is sufficient to meet the claims of creditors in any (n − k)-person coalition. Secondly, it is shown that thek-convexity property for the information market game is equivalent to the nonexistence of profits with respect to a restricted class of submarkets.
Original languageEnglish
Pages (from-to)313-324
Number of pages12
JournalZeitschrift für Operations Research
Volume41
Issue number3
DOIs
Publication statusPublished - 1995

Keywords

  • METIS-140714
  • IR-92524

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