Find the coalitional form of the given market

Reference no: EM13917142

Consider the market with transferable payoff like that of the previous example in which there are five agents, w1 = w2 = (2, 0), and w3 = w4 = w5 = (0,1).

a. Find the coalitional form of this market and calculate the core.

b. Suppose that agents 3, 4, and 5 form a syndicate: they enter coalitions only as a block, so that we have a three-player game. Does the core predict that the formation of the syndicate benefits its members?

Reference no: EM13917142

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