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players in the game.In this paper we consider cooperative games in which the playersare organized into an a priori coalition … payoff is equal to its share in someinternal game within its coalition multiplied by the share of thiscoalition in an … properties. Weprovide axiomatizations of this class of coalition structure sharefunctions using these consistency and …
Persistent link: https://www.econbiz.de/10011316871
In this paper, we analyze bankruptcy problems with nontransferable utility (NTU) from a game theoretical perspective by redefining corresponding NTU-bankruptcy games in a tailor-made way. It is shown that NTU-bankruptcy games are both coalitional merge convex and ordinal convex. Generalizing the...
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coalition theory, we find that the potential benefits of water trade may not be sufficient to make all agents in the river …
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This paper associates a strategic n-person game with a given transferable utility game and studies its Nash equilibria. Strict equilibria in this model characterize those divisions of social surplus that can become conventions in the sense of Young (1993). It is shown that even in relatively...
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We model a firm in an institutional market setting, consisting of a production technology and its governance. The governance consists of a hierarchical firm structure, a cost efficiency parameter,and an internal pay system. The depth of the firm is determined by profit maximization under the...
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In this paper, we study axiomatic foundations of the class of weighted division values. Firstly, while keeping efficiency, additivity and the nullifying player property from the original axiomatization of the equal division value, we consider relaxations of symmetry in line with Casajus (2019)...
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-egalitarian value divides the worth of the grand coalition into two parts and allocates them through equality and proportionality based …
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