INSTITUTE OF MATHEMATICAL ECONOMICS

Joachim Rosenmüller

Working-Paper No. 293

February 1998

Abstract

We exhibit the structure of totally balanced games, discuss some conditions for a game to be extreme within the cone of totally balanced games and provide conditions for the core to be a von Neumann-Morgenstern stable set. Our emphasis is put on exact and 'orthogonal' games. The main message is that the unique representation of such games, the extreme point property, and the existence of stable sets can be ensured if the game has 'sufficiently many players' of each of a finite set of types.

Keywords: Games, Coalitional form, Totally Balanced Games, Exact Games, Core of a Game, Stable Sets