This study provides a unified axiomatic characterization method of one-point solutions for cooperative games with transferable utilities. Any one-point solution that satisfies efficiency, the balanced cycle contributions property (BCC), and the axioms related to invariance under a player...

This paper introduces a measure of uncertainty in the determination of the Shapley value, illustrates it with examples, and studies some of its properties. The introduced measure of uncertainty quantifies random variations in a player's marginal contribution during the bargaining process. The...

This article describes the basic elements of the cooperative approach to game theory, one of the two counterparts of the discipline. After the presentation of some basic definitions, the focus will be on the core and the Shapley value, two of the most central solution concepts in cooperative...

Non-cooperative game theoretical models of international environmental agreements (IEAs) use the assumption that coalition of signatories maximize their joint welfare. The joint maxi- mization assumption is compared with di®erent sharing pro¯t schemes such as Shapley value, Nash bargaining...

The article shows how Jean-Francois Mertens contributed to the development of game theory and microeconomics as we know them today. Along with about 80 articles, Mertens's topics go from the formulation of Bayesian decision making in games with incomplete information to the foundations of cost...

The coalition formation problem in an economy with externalities can be adequately modeled by using games in partition function form (PFF games), proposed by Thrall and Lucas. If we suppose that forming the grand coalition generates the largest total surplus, a central question is how to...

The coalition formation problem in an economy with externalities can be adequately modeled by using games in partition function form (PFF games), proposed by Thrall and Lucas. If we suppose that forming the grand coalition generates the largest total surplus, a central question is how to...

Following the original interpretation of the Shapley value (Shapley, 1953a) as a priori evaluation of the prospects of a player in a multi-person iteraction situation, we propose a group value, which we call the Shapley group value, as a priori evaluation of the prospects of a group of players...

This paper introduces a new class of games, highway games, which arise from situations where there is a common resource that agents will jointly use. That resource is an ordered set of several indivisible sections, where each section has an associated fixed cost and each agent requires some...