CFDP 619

Approximate Cores of a General Class of Economies: Part II. Set-Up Costs and Firm Formation in Coalition Production Economies

Author(s): 
Martin ShubikMyrna Holtz Wooders

Publication Date: February 1982

Revision Date: June 1982

Pages: 36

Abstract: 

A general model of a coalition production economy allowing set-up costs, indivisibilities, and non-convexities is developed. It is shown that for all sufficiently large replications, approximate cores of the economy are non-empty.

See CFP: 592