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This article describes the basic elements of the cooperative approach to game theory, one of the two counterparts of the discipline. After the presentation of some basic definitions, the focus will be on the core and the Shapley value, two of the most central solution concepts in cooperative...
Persistent link: https://www.econbiz.de/10010318970
A set of necessary and sufficient conditions for convexity of a transferable utility game in terms of its decomposition into unanimity games is shown to be minimal: none of the conditions is redundant. The result is used to provide an axiomatization of the Shapley value on the set of convex games.
Persistent link: https://www.econbiz.de/10010321738
We provide a new characterization of the Shapley value neither using the efficiency axiom nor the additivity axiom. In … this characterization, efficiency is replaced by the gain-loss axiom (Einy and Haimanko, 2011, Game Econ Behav 73: 615 …
Persistent link: https://www.econbiz.de/10010311060
Aguiar et al. (2018) propose the Shapley distance as a measure of the extent to which output sharing among the stakeholders of an organization can be considered unfair. It measures the distance between an arbitrary pay profile and the Shapley pay profile under a given technology, the latter...
Persistent link: https://www.econbiz.de/10012058639
Democracy is defined by two core tenets: voice and pluralism. Within these constraints, a wide variety of regime types can be designed. We show that the only new, untested form of democracy is when every citizen is governed by the political party of his/her choice. Multiple full-edged...
Persistent link: https://www.econbiz.de/10010316842
of punishment, only communication significantly increases subjects’ earnings and thus efficiency. We study three forms of … communication and no punishment, we find that chat room communication increases cooperation and efficiency substantially, and when …, communication limited to sending numerical messages has no net effect on contributions or efficiency. …
Persistent link: https://www.econbiz.de/10010318922
of punishment, only communication significantly increases subjects’ earnings and thus efficiency. We study three forms of … communication and no punishment, we find that chat room communication increases cooperation and efficiency nearly as much as face …: communication, and punishment (allowing subjects to engage in costly reductions of one another’s earnings after learning of their …
Persistent link: https://www.econbiz.de/10010318929
-play communication: numerical (tabular) only, and verbal and numerical. We find that either kind of pre-play communication increases … trusting, trustworthiness, or both, in inter-subject comparisons, but that the inclusions of verbal communication generates …
Persistent link: https://www.econbiz.de/10010318961
We study communication in a two-player coordination game with Pareto-ranked equilibria. Prior research demonstrates … that efficient coordination is difficult without communication but obtains regularly with (mandatory) costless pre …-play messages. In a laboratory experiment, we modify communication by making the sending of messages optional and costly. Even small …
Persistent link: https://www.econbiz.de/10011282459
Organizations design their communication structures to improve decision-making while limiting wasteful influence … activities. An efficient communication protocol grants complete information payoffs to all organization members, thereby … strategies before being consulted. Under these assumptions, "public advocacy" is the unique efficient communication protocol …
Persistent link: https://www.econbiz.de/10013470530