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In a standard TU-game it is assumed that every subset of the player set can form a coalition and earn its worth. One of the first models where restrictions in cooperation are considered is the one of games with coalition structure. In such games the player set is partitioned into unions and...
Persistent link: https://www.econbiz.de/10010326205
This article describes the basic elements of the cooperative approach to game theory, one of the two counterparts of … of the most central solution concepts in cooperative game theory. …
Persistent link: https://www.econbiz.de/10010318970
A situation in which a finite set of players can generate certain payoffs by cooperation can be described by a cooperative game with transferable utility. A solution for TU-games assigns to every TU-game a distribution of the payoffs that can be earned over the individual players. Two well-known...
Persistent link: https://www.econbiz.de/10010325253
One of the main issues in economics is the trade-off between marginalism and egalitarianism. In the context of cooperative games this trade-off can be framed as one of choosing to allocate according to the Shapley value or the equal division solution. In this paper we provide tools that make it...
Persistent link: https://www.econbiz.de/10010325573
Three well-known solutions for cooperative TU-games are the Shapley value, the Banzhaf value and the equal division solution. In the literature various axiomatizations of these solutions can be found. Axiomatizations of the Shapley value often use efficiency which is not satisfied by the Banzhaf...
Persistent link: https://www.econbiz.de/10010325938
We generalize the null player property (satisfied by the Shapley value) and nullifying player property (satisfied by the equal division solution) to the so-called delta-reducing player property, stating that a delta-reducing player (being a player such that any coalition containing this player...
Persistent link: https://www.econbiz.de/10010326064
A situation in which a finite set of agents can generate certain payoffs by cooperation can be described by a cooperative game with transferable utility (or simply a TU-game) where each agent is represented by one player in the game. In this paper, we assume that one agent can be represented by...
Persistent link: https://www.econbiz.de/10010326208
We consider the problem of axiomatizing the Shapley value on the class of assignment games. We first show that several axiomatizations of the Shapley value on the class of all TU-games do not characterize this solution on the class of assignment games by providing alternative solutions that...
Persistent link: https://www.econbiz.de/10010326342
In this paper we provide new axiomatizations of the Shapley value for TU-games using axioms that are based on relational aspects in the interactions among players. Some of these relational aspects, in particular the economic or social interest of each player in cooperating with each other, can...
Persistent link: https://www.econbiz.de/10010326379
We consider a cooperative game with a bipartition that indicates which players are participating. This paper provides an analytical solution for the Shapley value when the worth of a coalition only depends on the number of participating coalition players. The computational complexity grows...
Persistent link: https://www.econbiz.de/10010326385