The measurement and the allocation of risk are fundamental problems of portfolio management. Coherent measures of risk provide an axiomatic approach to the former problem. In an environment given by a coherent measure of risk and the various portfolios' realization vectors, risk allocation games...

A voting situation is given by a set of voters and the rules of legislation that determine minimal requirements for a group of voters to pass a motion. A priori measures of voting power, such as the Shapley-Shubik index and the Banzhaf value, show the influence of the individual players in a...

The users of electricity networks are organized into groups where the production and consumption of electricity is in balance. This paper studies the formation of these balancing groups using a cooperative game in partition function form defined over an ideal (lossless) DC load flow model of the...

We generalize exactness to games with non-transferable utility (NTU). In an exact game for each coalition there is a core allocation on the boundary of its payoffset. Convex games with transferable utility are well-known to be exact. We study five generalizations of convexity in the NTU setting....

We study coalitional games where the proceeds from cooperation depend on the entire coalition structure. The coalition structure core (Kóczy, 2007) is a generalisation of the coalition structure core for such games. We introduce a noncooperative, sequential coalition formation model and show...

We provide two new characterizations of exact games. First, a game is exact if and only if it is exactly balanced; and second, a game is exact if and only if it is totally balanced and overbalanced.The condition of exact balancedness is identical to the one of balancedness, except that one of the...

In coalitional games with uncertain payoffs, a deviating coalition can only form expectations regarding its post-deviation payoff. Classical approaches address the problem from the side of conservatism, expecting the worst, or by explicit assumptions of the emerging state of the world. We borrow...

A recent stream of experimental economics literature studies the factors that contribute to the emergence of financial bubbles. We consider a setting where participants sorted according to their degree of risk aversion trade in experimental asset markets. We show that risk sorting is able to...

We aim to identify the most influential members of the Agricultural Committee of the European Parliament (COMAGRI). Unlike previous studies that were based on case studies or interviews with stakeholders, we analyse the voting power of MEPs using a spatial Banzhaf power index. We identify...

The exit of the United Kingdom from the European Union has had profound economic and political effects. Here, we look at a particular aspect, the power distribution in the Council of the European Union. Using the Shapley-Shubik power index, we calculate the member states' powers with and without...