The Core and the Hedonic Core: Equivalence and Comparative Statistics

UNIVERSITY OF CALIFORNIA, B E R K E L E Y Department of Economics Berkeley, California 94720 Working Paper 92-197 The Core and the Hedonic Core: Equivalence and Comparative Statics Greg Engl and Suzanne Scotchmer July 1992 Key Words: Core, Hedonic Core, Monotonicity, Core Convergence Useful comments on earlier drafts were provided by Robert M . Anderson, Marcus Berliant, Eddie Dekel, William Zame, participants at the International Game Theory Conference in StonyBrook, N . Y . , July, 1991, the Conference on New Directions in Club Theory in Tampere, Finland, August 1991, and seminar participants at C O R E , December 1991, and Berkeley, March 1992. We thank the NSF, Grant SES 90 119 10, for financial support. J E L Classification: 020