1. Robust equilibria in tournaments.
- Author
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Han, Lining, Juarez, Ruben, and Vargas, Miguel
- Subjects
- *
TOURNAMENTS , *EQUILIBRIUM , *COALITIONS , *NEGOTIATION - Abstract
We study robust equilibria in tournaments, where agents endowed with power form coalitions, and the coalition formed with the highest power prevails. We introduce the No-Threat Equilibrium (NTE), a stable partition where if a coalition deviates, then a new coalition could counter by forming an even stronger coalition. The NTE exists for any power function and preferences if and only if the set of feasible coalitions is a 'Helly' family. In contrast, the core is a partition in which no group of agents can profitably deviate by forming a feasible coalition, assuming that other agents do not react to such a deviation. The core is not empty for any power function and preferences if and only if the set of feasible coalitions has a 'hierarchical-structure'. The paper also adapts and characterizes other stability concepts to tournaments, including the α-core, β-core, farsighted core and bargaining set. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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