Skip to main content
Article thumbnail
Location of Repository

Laws of scarcity for a finite game: exact bounds on estimations

By Alexander Kovalenkov and Myrna Holtz Wooders


A "Law of Scarcity" is that scarceness is rewarded. We demonstrate laws of scarcity for cores and aproximate cores of games. Furthermore, we show that equal treatment core payoff vectors satisfy a condition of cyclic monotonicity. Our results are developed for parameterized collections of games and exact bounds on the maximum possible deviation of approximate core payoff vectors from satisfying a law of scarcity are stated in terms of the parameters describing the games. We note that the parameters can, in principle, be estimated

Topics: QA
Publisher: University of Warwick, Department of Economics
Year: 2003
OAI identifier:

Suggested articles


  1. (1977). A characterization of approximate equilibria and cores in a class of coalition economies",
  2. (1975). A further result on the representation of games by markets", doi
  3. (2003). Advances in the theory of large cooperative games and applications to club theory; The side payments case," doi
  4. (1965). An economic theory of clubs," doi
  5. (2001). An exact bound on epsilon for nonemptiness of epsilon cores of games," doi
  6. (2003). Approximate cores of games and economies with clubs," doi
  7. (1994). Approximating games and economies by markets,"
  8. (1991). Comparative statics in matching models," doi
  9. (1962). Complements and substitutes in the optimal assignment problem," doi
  10. (1959). Edgeworth market games,"
  11. (1994). Equivalence of games and markets," doi
  12. (1979). Income distribution and ¯rm formation," doi
  13. (1992). Inessentiality of large groups and the approximate core property; An equivalence theorem," doi
  14. (1982). Job matching, coalition formation, and gross substitutes," doi
  15. (1981). Job matchings with heterogeneous ¯rms and workers," doi
  16. (1994). Large games and economies with e®ective small groups," doi
  17. (1995). Microeconomic Theory,
  18. (1988). Monotonicity in games that exhaust gains to scale," Hoover Institution Working Paper
  19. (1999). Multijurisdictional economies, the Tiebout Hypothesis, and sorting," doi
  20. (1982). Near markets and market games," Cowles Foundation Discussion Paper No.
  21. (1969). On market games," doi
  22. (1971). Rational choice," in Preferences, Utility and Demand, edited by
  23. (1966). Revealed preference theory," doi
  24. Strong and Weak Axioms of Revealed Preference and Laws of Scarcity for games,"
  25. (1983). The epsilon core of a large replica game," doi
  26. (1984). The evolution of the labor market for medical residents and interns: A case study in game theory," doi
  27. (1990). Two-sided Matching; A Study in Game-theoretic Modeling and Analysis, Cambridge: doi

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.