The value is a solution concept for n-person strategic games, developed by Nash, Shapley, and Harsanyi. The value of a game is an a priori evaluation of the economic worth of the position of each player, reflecting the players' strategic possibilities, including their ability to make threats...

We develop a model of assignment games with pairwise-identitydependent externalities. A concept of conjectural equilibrium is proposed, and the universal conjecture is shown to be the necessary and sufficient condition for the general existence of equilibrium. We then apply the solution concept...