Voting power in voting situations is measured by the probability of changing decisions by altering the cast 'yes' or 'no' votes. Recently this analysis has been extended by strategic abstention. Abstention, just as 'yes' or 'no' votes can change decisions. This theory is often applied to...

In this paper shortest path games are considered. The transportation of a good in a network has costs and benefit too. The problem is to divide the profit of the transportation among the players. Fragnelli et al (2000) introduce the class of shortest path games, which coincides with the class of...

In this paper cost sharing problems are considered. We focus on problems on a rooted tree, we call these problems cost-tree problems, and on the induced transferable utility cooperative games, we call these games irrigation games. A formal notion of irrigation games is introduced, and the...

Let us consider a financially constrained leveraged financial firm having some divisions which have invested into some risky assets. Using coherent measures of risk the sum of the capital requirements of the divisions is larger than the capital requirement of the firm itself, there is some...

Measuring risk can be axiomatized by the concept of coherent measures of risk. A risk environment specifies some individual portfolios' realization vectors and a coherent measure of risk. We consider sharing the risk of the aggregate portfolio by studying transferable utility cooperative games:...

Risk allocation games are cooperative games that are used to attribute the risk of a financial entity to its divisions. In this paper, we extend the literature on risk allocation games by incorporating liquidity considerations. A liquidity policy specifies state-dependent liquidity requirements...

We extend the theoretical model of external corporate financing to the case when the buyers of the borrowing firm may default during the financing period. In our setup there is an asymmetric information and hence moral hazard between the lender and the borrower concerning the effrts of the...

We consider the problem of axiomatizing the Shapley value on the class of assignment games. We first show that several axiomatizations of the Shapley value on the class of all TU-games do not characterize this solution on the class of assignment games by providing alternative solutions that...

We consider the problem of axiomatizing the Shapley value on the class of assignment games. We first show that several axiomatizations of the Shapley value on the class of all TU-games do not characterize this solution on the class of assignment games by providing alternative solutions that...