Showing 1 - 10 of 35
In this paper, we analyze the equilibrium of a sequential game-theoretical model of lobbying, due to Groseclose and Snyder (1996), describing a legislature that vote over two alternatives, where two opposing lobbies, Lobby 0 and Lobby 1, compete by bidding for legislators’ votes. In this...
Persistent link: https://www.econbiz.de/10009225867
On several classes of n-person NTU games that have at least one Shapley NTU value, Aumann characterized this solution by six axioms: Non-emptiness, efficiency, unanimity, scale covariance, conditional additivity, and independence of irrelevant alternatives (IIA). Each of the first five axioms is...
Persistent link: https://www.econbiz.de/10010317127
On several classes of n-person NTU games that have at least one Shapley NTU value, Aumann characterized this solution by six axioms: Non-emptiness, efficiency, unanimity, scale covariance, conditional additivity, and independence of irrelevant alternatives (IIA). Each of the first five axioms is...
Persistent link: https://www.econbiz.de/10009506430
If the excesses of the coalitions in a transferable utility game are weighted, then we show that the arising weighted modifications of the well-known (pre)nucleolus and (pre)kernel satisfy the equal treatment property if and only if the weight system is symmetric in the sense that the weight of...
Persistent link: https://www.econbiz.de/10013087342
We show that on the domain of convex games, Dutta-Ray's egalitarian solution is characterized by core selection, aggregate monotonicity, and bounded richness, a new property requiring that the poorest players cannot be made richer within the core. Replacing "poorest" by "poorer" allows to...
Persistent link: https://www.econbiz.de/10012836827
We introduce the constrained egalitarian surplus-sharing rule fCE, which distributes an amount of a divisible resource so that the poorer agents' resulting payoffs become equal but not larger than any remaining agent's status quo payoff. We show that fCE is characterized by Pareto optimality,...
Persistent link: https://www.econbiz.de/10012843038
We show that the constrained egalitarian surplus-sharing rule, which divides the surplus so that the poorer players' resulting payoffs become equal but not larger than any remaining player's status quo payoff, is characterized by Pareto optimality, path independence, both well-known, and less...
Persistent link: https://www.econbiz.de/10012890329
This paper formally introduces Hart-Mas-Colell consistency for general (possibly multi-valued) solutions for cooperative games with transferable utility. This notion is used to axiomatically characterize the core on the domain of convex games. Moreover, we characterize all nonempty solutions...
Persistent link: https://www.econbiz.de/10012824091
A highway problem is a cost sharing problem that arises if the common resource is an ordered set of sections with fixed costs such that each agent demands consecutive sections. We show that the core, the prenucleolus, and the Shapley value on the class of TU games associated with highway...
Persistent link: https://www.econbiz.de/10013019777
It is known that for supermodular TU-games, the vertices of the core are the marginal vectors, and this result remains true for games where the set of feasible coalitions is a distributive lattice. Such games are induced by a hierarchy (partial order) on players. We propose a larger class of...
Persistent link: https://www.econbiz.de/10012984412