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bargain through some extensive game form. We take an implementation approach, characterizing the possible allocation rules …
Persistent link: https://www.econbiz.de/10005062338
We study a simple bargaining mechanism in which each player puts a prize to his resources before leaving the game. The only expected final equilibrium payoff can be defined by means of selective marginal contributions vectors, and it coincides with the Shapley value for convex games. Moreover,...
Persistent link: https://www.econbiz.de/10005124854
We examine a new class of games, which we call social games, where players not only choose strategies but also choose with whom they play. A group of players who are dissatisfied with the play of their current partners can join together and play a new equilibrium. This imposes new refinements on...
Persistent link: https://www.econbiz.de/10005062336
In this paper we characterize the set of rules satisfying additivity on the estate along with additivity on the estate and the claims in bankruptcy problems and other related problems. Moreover, new characterizations of the well known rules based on the principles of "equal award", "equal loss",...
Persistent link: https://www.econbiz.de/10005062337
We introduce a new value for NTU games with coalition structure. This value coincides with the consistent value for trivial coalition structures, and with the Owen value for TU games with coalition structure. Furthermore, we present two characterizations: the first one using a consistency...
Persistent link: https://www.econbiz.de/10005062354
An expanded model of value in cooperative games is presented in which value has either a linear or a proportional mode, and NTU value has either an input or an output basis. In TU games, the modes correspond to the Shapley (1953) and proportional (Feldman (1999) and Ortmann (2000)) values. In...
Persistent link: https://www.econbiz.de/10005407563
It is now almost a common truth that society needs to avoid environment contamination or damage become significant for nature protection programs of the government and wild life preservation efforts. A possible outcome of such efforts might occasionally be a voluntary solution, which results...
Persistent link: https://www.econbiz.de/10005407567
Cooperative and noncooperative games have no representation of players's basis utilities. Basis utility is the natural reference point on a player's utility scale that enables the determination the marginal utility of any payoff or allocation. A player's basis utility can be determined by an...
Persistent link: https://www.econbiz.de/10005407599
We introduce a non-cooperative model of bargaining when players are divided into coalitions. The model is a modification of the mechanism in Vidal-Puga (Economic Theory, 2005) so that all the players have the same chances to make proposals. This means that players maintain their own 'right to...
Persistent link: https://www.econbiz.de/10005550887
The mechanism by Hart and Mas-Colell (1996) for NTU games is generalized so that a coalition structure among players is taken into account. The new mechanism yields the Owen value for TU games with coalition structure as well as the consistent value (Maschler and Owen 1989, 1992) for NTU games...
Persistent link: https://www.econbiz.de/10005550900