Reduced two-bound core games

Abstract

This paper studies Davis–Maschler reduced games of two-bound core games and shows that all these reduced games with respect to core elements are two-bound core games with the same pair of bounds. Based on associated reduced game properties, we axiomatically characterize the core, the nucleolus, and the egalitarian core for two-bound core games. Moreover, we show that the egalitarian core for two-bound core games is single-valued and we provide an explicit expression.