The total number of representatives in a parliament is 550. In this parliament, three political parties A, B, and C have 250, 120, and 180 representatives respectively. Suppose that decisions are made by a simple majority. In other words, to approve a decision, more than half of the 550 votes are needed. In a way that determines whether the decision will be approved or not, a) Formulate this game in coalitional form, write its characteristic function. b) Determine the core.
The total number of representatives in a parliament is 550. In this parliament, three political parties A, B, and C have 250, 120, and 180 representatives respectively. Suppose that decisions are made by a simple majority. In other words, to approve a decision, more than half of the 550 votes are needed. In a way that determines whether the decision will be approved or not, a) Formulate this game in coalitional form, write its characteristic function. b) Determine the core.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Transcribed Image Text:The total number of representatives in a parliament is 550. In this parliament,
three political parties A, B, and C have 250, 120, and 180 representatives
respectively. Suppose that decisions are made by a simple majority. In other
words, to approve a decision, more than half of the 550 votes are needed.
In a way that determines whether the decision will be approved or not,
a) Formulate this game in coalitional form, write its characteristic function.
b) Determine the core.
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