Hamiache (2001) assigns to every TU game a so-called associated game and then shows that the Shapley value is characterized as the unique solution for TU games satisfying the inessential game property, continuity and associated consistency. The latter notion means that for every game the Shapley...

In the literature various models of games with restricted cooperation can be found. In those models, instead of allowing for all subsets of the set of players to form, it is assumed that the set of feasible coalitions is a proper subset of the power set of the set of players. In this paper we...

A well known and simple game to model markets is the glove game where worth is produced by building matching pairs. For glove games, different concepts, like the Shapley value, the restricted Shapley value or the Owen value, yield diff erent distributions of worth. Moreover, computational effort...

We introduce the prediction value (PV) as a measure of players' informational importance in probabilistic TU games. The latter combine a standard TU game and a probability distribution over the set of coalitions. Player i's prediction value equals the difference between the conditional...

Agents participating in different kind of organizations, usually take different positions in some relational structure. The aim of this paper is to introduce a new framework taking into account both communication and hierachical features derived from this participation. In fact, this new set or...

A group of agents are waiting for their job to be processed in a facility. We assume that each agent needs the same amount of processing time and incurs waiting costs. The facility has two parallel servers, being able to serve two agents at a time. We are interested in finding the order to serve...

We suggest a full consolidation approach that takes into account the property rights structure whithin the subsidiaries, in particular, the majority requirements on restructurings. Our approach employs a property rights index based on cooperative game theory.

We analyze the emergence of systemic risk in a network model of interconnected bank balance sheets. The model incorporates multiple sources of systemic risk, including size of financial institutions, direct exposure from interbank lendings, and asset fire sales. We suggest a new macroprudential...

Complementary to the axiomatic and mechanism design studies on queueing problems, this paper proposes a strategic bargaining approach to resolve queueing conflicts. Given a situation where players with different waiting costs have to form a queue in order to be served, they firstly compete with...

Measuring and allocating risk properly are crucial for performance evaluation and internal capital allocation of portfolios held by banks, insurance companies, investment funds and other entities subject to financial risk. We show that by using coherent measures of risk it is impossible to...