Fuzzy Coalitions and Solutions of Cooperative Games: Beyond the Market Solutions

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In traditional market games, coalitional payoffs are allocated to each player contingent upon the agreement that players contribute every initial endowment to the coalitions they are participating. On the contrary, in fuzzy market games, players do not necessarily have to contribute every initial endowment to the coalitions and they are free to decide their degree of commitment by contributing partially their initial endowment to the coalitions. It is well known in the literature that in economies with homogeneous divisible commodities fuzzy core allocations coincide with competitive equilibrium allocations. Without fuzzy coalitions, in general there is a core allocation that cannot be realized through the market mechanism. Nevertheless, in this research, I demonstrated that fuzzy core allocations can be attained by the market mechanism.