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The Complete Idiot's Guide to Game Theory by Edward Rosenthal, Ph.D., Edward C. Rosenthal

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Veto Power

Before exploring different voting systems, let’s first consider a few situations where one player essentially holds all the cards despite the group nature of the process.
In Chapter 12 you learned how to model economic situations with multiple players by setting up a characteristic function that evaluated what each coalition of players was able to attain. This cooperative game approach is useful in studying voting as well. Let’s consider voting situations that are decided by majority rule. This means that any coalition, or subset, of players that has more than half of the total number of votes is a winning coalition. A simple way to represent this using the characteristic function is to assign a value of one to all winning coalitions ...

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