Kenneth Arrow


It is with great sadness that we have learned of the passing of a dear friend of our Center. Ken Arrow passed away on February 21, 2017. Ken not only was the most admired economist in the modern era but also played a key role at the Center. He was the founding director of the summer school and has been on the academic committee of the Center from its inception 26 years ago. He visited the Center almost every summer including the last one. His presence at our Center will always be felt and he will be greatly missed.

On a Class of Vertices of the Core (joint with Michel Grabisch)

: It is known that for convex TU games the vertices of the core are the marginal vectors, and this result remains true for games where the set of feasible coalitions is a distributive lattice. We propose a larger class of vertices for games on distributive lattices, called min-max vertices, obtained by minimizing or maximizing in a given order the coordinates of a core element. We show that, for connected hierarchies (and for the general case under some restrictions), there is a simple recursive formula generating some of them.

How we do and could cooperate: A Kantian explanation

Standard game theory’s theory of cooperation is based upon threatened punishment of non-cooperators in a repeated game, which induces a Nash equilibrium in which cooperation is observed.   Thus, cooperation in games is explained as a non-cooperative equilibrium.  Behavioral economics, on the other hand, explains cooperative behavior by inserting ‘exotic’ agruments into preferences  (altruism, fairness, etc.), and  again deducing cooperation as a Nash equilibrium in a game with non-standard preferences.   In both variants, cooperation is envisaged as achievable as


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