Maximality in the Farsighted Stable Set

S-Tier
Journal: Econometrica
Year: 2019
Volume: 87
Issue: 5
Pages: 1763-1779

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Harsanyi (1974) and Ray and Vohra (2015) extended the stable set of von Neumann and Morgenstern to impose farsighted credibility on coalitional deviations. But the resulting farsighted stable set suffers from a conceptual drawback: while coalitional moves improve on existing outcomes, coalitions might do even better by moving elsewhere. Or other coalitions might intervene to impose their favored moves. We show that every farsighted stable set satisfying some reasonable and easily verifiable properties is unaffected by the imposition of these stringent maximality constraints. The properties we describe are satisfied by many, but not all, farsighted stable sets.

Technical Details

RePEc Handle
repec:wly:emetrp:v:87:y:2019:i:5:p:1763-1779
Journal Field
General
Author Count
2
Added to Database
2026-01-29