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Threshold Value: How Binding Thresholds Affect the Outcome of a Negotiation

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  • SYLVIE THORON

Abstract

The objective of this paper is to give the prospective outcome or "prospect" of a negotiation when the players' value can only be realized if a certain threshold is reached. Thresholds can be of different forms such as a certain number of players, a certain coalition of players or a certain total level of contribution. A value is proposed, which is defined for a given game and a given threshold. It is derived from a decomposition of the Shapley value.
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  • Sylvie Thoron, 2011. "Threshold Value: How Binding Thresholds Affect the Outcome of a Negotiation," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 13(6), pages 903-920, December.
    • Handle: RePEc:bla:jpbect:v:13:y:2011:i:6:p:903-920
    DOI: j.1467-9779.2011.01524.x
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    1. Perez-Castrillo, David & Wettstein, David, 2001. "Bidding for the Surplus : A Non-cooperative Approach to the Shapley Value," Journal of Economic Theory, Elsevier, vol. 100(2), pages 274-294, October.
    2. Hart, Sergiu & Kurz, Mordecai, 1983. "Endogenous Formation of Coalitions," Econometrica, Econometric Society, vol. 51(4), pages 1047-1064, July.
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