It is well known that the core of a convex coalitional game with a finite set of players is the unique von Neumann-Morgenstern stable set of the game. We extend the definition of a stable set to coalitional games with an infinite set of players and give an example of a convex simple game with a countable set of players which does not have a stable set. But if a convex game with a countable set of players is continuous at the grand coalition, we prove that its core is the unique von Neumann-Morgenstern stable set. We also show that a game with a countable (possibly finite) set of players which is inner continuous is convex iff the core of each of its subgames is a stable set. Journal of Economic Literature Classification Numbers: C70, C71.
ASJC Scopus subject areas
- Economics and Econometrics