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In this paper we characterize a value, called a marginalistic value, for monotonic set games, which can be considered to be the analog of the Shapley value for TU-games. For this characterization we use a modification of the strong monotonicity axiom of Young, but the proof is rather different...
Persistent link: https://www.econbiz.de/10005598526
In this paper we consider a model of an economy with a common pool resource. Under decreasing returns to scale, it is well-known that no Nash equilibrium attains Pareto efficiency. We examine whether it is possible to achieve Pareto efficiency and avoid the tragedy of the commons through...
Persistent link: https://www.econbiz.de/10005598529
An axiomatization of the interaction between the players of any coalition is given. It is based on three axioms: linearity, dummy and symmetry. These interaction indices extend the Banzhaf and Shapley values when using in addition two equivalent recursive axioms. Lastly, we give an expression of...
Persistent link: https://www.econbiz.de/10005598528