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The measurement and the allocation of risk are fundamental problems of portfolio management. Coherent measures of risk …
Persistent link: https://www.econbiz.de/10003551804
Using network control structures this paper introduces network communication games as a generalization of vertex games and edge games corresponding to communication situations and studies their decomposition into unanimity games. We obtain a relation between the dividends of the network...
Persistent link: https://www.econbiz.de/10013010479
In the Ultimatum Game (UG) one player, named “proposer”, has to decide how to allocate a certain amount of money between herself and a “responder”. If the offer is greater than or equal to the responder’s minimum acceptable offer (MAO), then the money is split as proposed, otherwise,...
Persistent link: https://www.econbiz.de/10014114958
This chapter studies the theory of value of games with infinitely many players.Games with infinitely many players are …
Persistent link: https://www.econbiz.de/10014024489
We consider upper and lower bounds for maxmin allocations of a completely divisible good in both competitive and cooperative strategic contexts. We then derive a subgradient algorithm to compute the exact value up to any fixed degree of precision
Persistent link: https://www.econbiz.de/10013112094
precision. -- Fair Division ; Maxmin Allocation ; Kalai Bargaining Solution ; Cooperative Game Theory …
Persistent link: https://www.econbiz.de/10009380614
In a river claims problem, agents are ordered linearly, and they have both an initial water endowment as well as a claim to the total water resource. We provide characterizations of two solutions to this problem, using Composition properties which have particularly relevant interpretations for...
Persistent link: https://www.econbiz.de/10010226544
We experimentally investigate multiple notions of equity in ultimatum bargaining with asymmetric outside options. Building on the generalized equity principle formulated by Selten (1978), we derive three different equity rules that can explain 43% of all offers. Our within-subject design further...
Persistent link: https://www.econbiz.de/10010191262
game theory to assess the economics of transboundary river water allocation in a simple model of river sharing. This model …
Persistent link: https://www.econbiz.de/10010412473
Agents involved in a conflicting claims problem may be concerned with the proportion of their claims that is satisfied, or with the total amount they get. In order to relate both perspectives, we associate to each conflicting claims problem a bargaining-in-proportions set. Then, we obtain a...
Persistent link: https://www.econbiz.de/10010503395