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In this paper we present a solution concept for abstract systems called the admissible hierarchic set. The solution we propose is a refinement of the hierarchic solution, a generalization of the von Neumann and Morgenstern solution. For finite abstract systems we show that the admissible...
Persistent link: https://www.econbiz.de/10005187620
The paper presents a framework where the most important single-valued solutions in the literature of TU games are jointly analyzed. The paper also suggests that similar frameworks may be useful for other coalitional models.
Persistent link: https://www.econbiz.de/10005121345