The number of commodities required to represent a market game |
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Authors: | Sergiu Hart |
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Affiliation: | Department of Statistics, Tel-Aviv University, Tel-Aviv, Israel |
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Abstract: | An n-person game with side payments that can arise from an economic market is called a market game. It is proved here that any n-person market game can be obtained from a market with at most n ? 1 commodities. Moreover, no smaller number will suffice in some cases (e.g., the unanimity game). This result is then applied to settle a question regarding market games with a continuum of traders. |
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