Abstract
Any cooperative n-person game with transferable utility has a noncooperative mode in which the players sell out of their positions to an external market of entrepreneurial organizing agents. Assuming a market of price takers, this game of competitive self-valuation always has an equilibrium price solution. Every core imputation in the original game constitutes a set of equilibrium prices. If there is no core the entrepreneurs can exploit the coalitions for a profit, i.e., they realize a positive rent for their organizing function. Application is made to determining fair wages to labor, and finding equilibrium prices for legislators selling their votes.KeywordsEquilibrium PriceCooperative GameMaximum ProfitSupply CurveWinning CoalitionThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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