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models of communication and hierarchy restrictions in cooperative games, compare different network structures with each other … illustrate these network structures by applying them to cooperative games with restricted cooperation. …
Persistent link: https://www.econbiz.de/10012605985
models of communication and hierarchy restrictions in cooperative games, compare different network structures with each other … illustrate these network structures by applying them to cooperative games with restricted cooperation. …
Persistent link: https://www.econbiz.de/10012434059
The equivalence of markets and games concerns the relationship between two sorts of structures that appear … fundamentally different -- markets and games. Shapley and Shubik (1969) demonstrates that: (1) games derived from markets with … concave utility functions generate totally balanced games where the players in the game are the participants in the economy …
Persistent link: https://www.econbiz.de/10009328147
The equivalence of markets and games concerns the relationship between two sorts of structures that appear … fundamentally different -- markets and games. Shapley and Shubik (1969) demonstrates that: (1) games derived from markets with … concave utility functions generate totally balanced games where the players in the game are the participants in the economy …
Persistent link: https://www.econbiz.de/10008624634
This paper prices the risk of climate change by calculating a lower bound for the price of a virtual insurance policy against climate risks associated with the business as usual (BAU) emissions path. In analogy with ordinary insurance pricing, this price depends on the current risk to which...
Persistent link: https://www.econbiz.de/10010304807
into unanimity games is shown to be minimal: none of the conditions is redundant. The result is used to provide an … axiomatization of the Shapley value on the set of convex games. …
Persistent link: https://www.econbiz.de/10010321738
structure. These are so-called line-graph games beingcooperative TU-games in which the players are linearly ordered.Examples of … players. We apply the concept of Harsanyi solution toline-graph games. We define four properties that each selectsa unique …
Persistent link: https://www.econbiz.de/10010324954
ordered, i.e. they are part of a structure of asymmetric relations. Examples are auctions, airport games, sequencing … situations, the water distribution problem and hierarchically structured firms. This paper is about games with permission …
Persistent link: https://www.econbiz.de/10010324965
cooperative game with transferable utility, or simply a TU-game. A solution for TU-games assigns a set of payoff vectors to every … new solution concept for games with ordered players, called the Restricted Harsanyi set, is fully characterized by a … solution concept resulting from adapting the concept of Selectope to games with ordered players. Some applications show the …
Persistent link: https://www.econbiz.de/10010325185
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 solutions for TU-games are the Shapley value and the egalitarian … earns zero worth. We illustrate this difference between these two solutions by applying them to auction games. …
Persistent link: https://www.econbiz.de/10010325253