What does an empty core signify about the resources of the negotiators?
If the core is empty, it implies that they cannot come to an allocation of payoffs which is beneficial to all participants. This in turn implies that the parties may be better off producing independently, that is, their resources are not complementary.
Economics
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To maximize its revenue
A) a firm facing inelastic demand should always raise its price. B) a firm facing elastic demand should always raise its price. C) a firm should always charge the highest price possible regardless of the elasticity of demand. D) None of the above answers is correct.
Economics
The diagram suggests that:
A. X and Y are both inferior goods.
B. X and Y are both normal goods.
C. X and Y are substitute goods.
D. X and Y are independent goods.
Economics