Asymptotic Value of Games with a Continuum of Players
We investigate the asymptotic value for a class of non-atomic games, which
includes all those arising from markets with a continuum of traders.
The main result is the following: the asymptotic value, if it exists, is the
center of symmetry of the core. This implies that the value is a member of the
core, and gives a necessary condition for its existence. The sufficiency of
this condition for the existence of the value is also studied.
- Journal of Mathematical Economics 4 (1977), 1, 57-80