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This chapter studies the theory of value of games with infinitely many players.Games with infinitely many players are …-handed influence. The interactions are modeled as cooperative games with a continuum of players. In general, the continuum consists of … framework for mathematical analysis, and approximates the results for large finite games well. Also, it enables a unified view …
Persistent link: https://www.econbiz.de/10014024489
Least-Unmatched Price Auctions have become a popular format of TV and radio shows. Increasingly, they are also applied in internet trading. In these auctions the lowest single (unique) bid wins. We analyze the game-theoretic solution of least unmatched price auctions when prize, bidding cost and...
Persistent link: https://www.econbiz.de/10003747367
In this paper we introduce games with optimistic aspirations and identify attractive allocation rules for such games … not included in the coalition. We explain games with optimistic aspirations as well as our motivation for introducing such … games by means of an example …
Persistent link: https://www.econbiz.de/10014157876
Previous allocation rules for network games, such as the Myerson Value, implicitly or explicitly take the network … alternative network structures (not just sub-networks) can and should influence the allocation of value among players on any given … network structure. I present a family of allocation rules that incorporate information about alternative network structures …
Persistent link: https://www.econbiz.de/10014076141
We study marriage problems where two groups of agents match to each other and probabilistic assignments are possible. When only ordinal preferences are observable, an extensively studied efficiency notion is stochastic dominance efficiency (sd-efficiency). First, we provide a characterization of...
Persistent link: https://www.econbiz.de/10014143817
an allocation rule. We will show that this new variant of cooperative games – like the original linear LPG – is balanced …, hence, has a nonempty core, and that we can obtain an allocation in the core by using the shadow prices of the flexible …
Persistent link: https://www.econbiz.de/10013143585
portfolios' realization vectors, risk allocation games aim at solving the second problem: How to distribute the diversification … allocations of risk. We show that the class of risk allocation and totally balanced games coincide hence a stable allocation of … allocation games coincides with the class of exact games. As in exact games any subcoalition may be subject to marginalization …
Persistent link: https://www.econbiz.de/10013124576
We consider upper and lower bounds for maxmin allocations of a completely divisible good in both competitive and cooperative strategic contexts. We then derive a subgradient algorithm to compute the exact value up to any fixed degree of precision
Persistent link: https://www.econbiz.de/10013112094
not only the problem of maximizing the total joint reward, but also the allocation of these rewards among the agents …. Analyzing these situations a new class of transferable utility games is introduced, called multipurpose resource games. These … games are based on the bankruptcy model, as introduced by O'Neill (1982). It is shown that every multipurpose resource game …
Persistent link: https://www.econbiz.de/10013128540
precision. -- Fair Division ; Maxmin Allocation ; Kalai Bargaining Solution ; Cooperative Game Theory …
Persistent link: https://www.econbiz.de/10009380614