Abstract
A certain trade of the information about a technological innovation between the initial owner of the information andn identical producers is studied by means of a cooperative game theoretic approach. The information trading situation is modelled as a cooperative (n+1)-person game with side payments. The symmetrical strong ɛ-cores (including the core), the nucleolus and the kernel of the cooperative game model are determined. Interpretations of these game theoretic solutions and their implications for the information trading problem are given.
Article PDF
Similar content being viewed by others
Avoid common mistakes on your manuscript.
References
Arrow KJ (1962) Economic welfare and the allocation of resources for invention. In: Nelson RR (ed) The rate and direction of inventive activity. Princeton University Press, Princeton, New Jersey
Davis M, Maschler M (1965) The kernel of a cooperative game. Naval Res Logist Quart 12:223–259
Gillies DB (1953) Some theorems onn-person games. Ph D Thesis. Princeton University Press, Princeton, New Jersey
Kamien MI, Tauman Y (1984) The private value of a patent: a game theoretic analysis. J Econom Suppl 4:93–118
Kamien MI, Tauman Y (1986) Fees versus royalties and the private value of a patent. Quart J Econom 101:471–491
Kamien MI, Tauman Y, Zang I (1988) Optimal license fees for a new product. Math Social Sciences 16:77–106
Kats A, Tauman Y (1985) Coalition production economies with divisible and indivisible inputs. J Math Econom 14:19–42
Maschler M, Peleg B (1966) A characterization, existence proof and dimension bounds for the kernel of a game. Pacific J Math 18:289–328
Maschler M, Peleg B, Shapley LS (1979) Geometric properties of the kernel, nucleolus, and related solution concepts. Math Oper Res 4:303–338
Muto S (1987) Possibility of relicensing and patent protection. European Econom Rev 31:927–945
Muto S, Nakayama M, Potters J, Tijs SH (1988) On big boss games. Econom Studies Quart 39:303–321
Nakayama M (1986) Bargaining for an information good with externalities. Working Paper no 79. Faculty of Economics, Toyama University, Toyama, Japan
Schmeidler D (1969) The nucleolus of a characteristic function game. SIAM J Appl Math 17:1163–1170
Shapley LS, Shubik M (1963) The core of an economy with nonconvex preferences. RM-3518, The Rand Corporation, Santa Monica, CA
Shapley LS, Shubik M (1966) Quasi-cores in a monetary economy with nonconvex preferences. Econometrica 34:805–827
Author information
Authors and Affiliations
Rights and permissions
About this article
Cite this article
Driessen, T., Muto, S. & Nakayama, M. A cooperative game of information trading: The core, the nucleolus and the kernel. ZOR Zeitschrift für Operations Research Methods and Models of Operations Research 36, 55–72 (1992). https://doi.org/10.1007/BF01541032
Received:
Revised:
Issue Date:
DOI: https://doi.org/10.1007/BF01541032