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This paper presents two new axiomatizations of the Owen value for games with coalition structures. Two associated games are defined and a consistency axiom is required. The construction of the associated games presupposes that coalitions behave in an aggressive manner towards players who are not...
Persistent link: https://www.econbiz.de/10005375631
In this paper we provide an axiomatization of the Shapley value for TU-games using a fairness property. This property states that if to a game we add another game in which two players are symmetric then their payoffs change by the same amount. We show that the Shapley value is characterized by...
Persistent link: https://www.econbiz.de/10005598402
Persistent link: https://www.econbiz.de/10005598408
Games with cooperation structure are cooperative games with a family of feasible coalitions, that describes which coalitions can negotiate in the game. We study a model of cooperation structure and the corresponding restricted game, in which the feasible coalitions are those belonging to a...
Persistent link: https://www.econbiz.de/10005598426
A simple version of the Demand Commitment Game is shown to implement the Shapley value as the unique subgame perfect equilibrium outcome for any n-person characteristic function game. This improves upon previous models devoted to this implementation problem in terms of one or more of the...
Persistent link: https://www.econbiz.de/10005598522
Persistent link: https://www.econbiz.de/10005755688
The mean value is a new extension of the Shapley value for games with communication structure representable by a simple graph; only pairwise meetings can occur, although some of them might not be permitted. The new value is characterized by a set of axioms of which the one with the most...
Persistent link: https://www.econbiz.de/10005755754
In this work, a new axiomatization of the Shapley is presented. An associated game is constructed. We define a sequence of games, when the term of order n, in this sequence, is the associated game of the term of order (n-1). We show that the sequence converges and that the limit game is...
Persistent link: https://www.econbiz.de/10005755793
Persistent link: https://www.econbiz.de/10005371498
We will find 3 maximal subclasses with respect to essential, superadditive and convex games, respectively such that a game is in one subclass, so are its reduced games.
Persistent link: https://www.econbiz.de/10005375529