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economy. The set of Walrasian payoff vectors for our induced coalition production economy coincides with the inner core of the …
Persistent link: https://www.econbiz.de/10013114027
This paper defines a measure of bargaining uncertainty that quantifies Roth's concept of strategic risk. It shows how this measure can be used for checking reliability of the Shapley value in cost allocation problems and in the theory of competitive equilibrium. Salient properties of the new...
Persistent link: https://www.econbiz.de/10014087498
This chapter surveys some of the literature in game theory that has emerged from Shapley's seminal paper on the Value. The survey includes both contributions which offer different interpretations of the Shapley value as well as several different ways to characterize the value axiomatically. The...
Persistent link: https://www.econbiz.de/10014024492
In this paper, we study different notions of stability for three-sided assignment games. Since the core may be empty in …-Morgenstern stable sets. The dominant diagonal property is necessary for the core to be a stable set, and also sufficient in the case … of the extended cores of all μ-compatible subgames, for a given optimal matching μ, is the core with respect to those …
Persistent link: https://www.econbiz.de/10012011087
-convexity, under which the game is shown to have a non-empty core and the average tree solution lies in the core. In general, link …
Persistent link: https://www.econbiz.de/10011377055
coalitions also their union is feasible. Properties of solutions (the core, the nucleolus, the prekernel and the Shapley value … all subsets of the player set N to form, it is assumed that the set of feasible coalitions is a subset of the power set of … N. In this paper we consider such sets of feasible coalitions that are closed under union, i.e. for any two feasible …
Persistent link: https://www.econbiz.de/10011383187
uncertainty regarding the payoffs of coalitions. One out of a finite number of states of nature materializes and conditional on … commitment possibilities and propose the Weak Sequential Core as a solution concept. We characterize the Weak Sequential Core and …
Persistent link: https://www.econbiz.de/10010494469
nonnegative), and there is some hierarchical ordering of the players. In this paper we introduce the Restricted Core for such … players. For totally positive games this solution is always contained in the Core, and contains the well-known Shapley value … (being the single-valued solution distributing the dividends equally among the players in the corresponding coalitions). For …
Persistent link: https://www.econbiz.de/10014046563
models, Shenoy's (1979) absence of the paradox of smaller coalitions provides a sufficient condition for core existence. We … induced hedonic game satisfies the top coalition property. -- Coalition formation ; Core ; Paradox of smaller coalitions …. (2001) that guarantees nonemptiness of the core in more general models. As it turns out, the top coalition property implies …
Persistent link: https://www.econbiz.de/10003731198
to the interval core of that game and Lorenz dominates each other interval core element. Consistency properties of the …
Persistent link: https://www.econbiz.de/10012722411