AN AXIOMATIZATION OF THE CORE FOR FINITE AND CONTINUUM GAMES

We provide a new axiomatization of the core of games in characteristic form. The games may have either finite sets of players or continuum s ets of players and finite coalitions. Our research is based on Peleg's axiomatization for finite games and on the notions of measurement-con sistent partitions and the f-core introduced by Kaneko and Wooders. Si nce coalitions are finite in both finite games and in continuum games, we can use the reduced game property and the converse reduced game pr operty for our axiomatization. Both properties are particularly appeal ing in large economies.