Two solution concepts for games without sidepayments are considered: the stable bargaining solution proposed by Harsanyi[6, 7], and the $\lambda$-transfer value first proposed by Shapley [19]. Some examples of games are considered for which both solution concepts yield results which are highly counter-intuitive, and which seem to be inconsistent with the hypothesis that the games are played by rational players.
MLA
Roth, Alvin E.. “Values for Games without Sidepayments: Some Difficulties with Current Concepts.” Econometrica, vol. 48, .no 2, Econometric Society, 1980, pp. 457-466, https://www.jstor.org/stable/1911108
Chicago
Roth, Alvin E.. “Values for Games without Sidepayments: Some Difficulties with Current Concepts.” Econometrica, 48, .no 2, (Econometric Society: 1980), 457-466. https://www.jstor.org/stable/1911108
APA
Roth, A. E. (1980). Values for Games without Sidepayments: Some Difficulties with Current Concepts. Econometrica, 48(2), 457-466. https://www.jstor.org/stable/1911108
We are deeply saddened by the passing of Kate Ho, the John L. Weinberg Professor of Economics and Business Policy at Princeton University and a Fellow of the Econometric Society. Kate was a brilliant IO economist and scholar whose impact on the profession will resonate for many years to come.
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