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Externalities, potential, value and consistency

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  • Dutta, Bhaskar
  • Ehlers, Lars
  • Kar, Anirban

Abstract

We provide new characterization results for the value of games in partition function form. In particular, we use the potential of a game to define the value. We also provide a characterization of the class of values which satisfies one form of reduced game consistency.

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File URL: http://www.sciencedirect.com/science/article/B6WJ3-5161PK7-6/2/1ca0f4a669de6f5aa7aac5e240bc0551
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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 145 (2010)
Issue (Month): 6 (November)
Pages: 2380-2411

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Handle: RePEc:eee:jetheo:v:145:y:2010:i:6:p:2380-2411

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Web page: http://www.elsevier.com/locate/inca/622869

Related research

Keywords: Shapley value Potential Consistency Games in partition function form;

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References

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  1. Bolger, E M, 1989. "A Set of Axioms for a Value for Partition Function Games," International Journal of Game Theory, Springer, vol. 18(1), pages 37-44.
  2. Moulin, Herve, 1985. "The separability axiom and equal-sharing methods," Journal of Economic Theory, Elsevier, vol. 36(1), pages 120-148, June.
  3. Geoffroy de Clippel & Roberto Serrano, 2005. "Marginal Contributions and Externalities in the Value," Working Papers 2005-11, Brown University, Department of Economics.
  4. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May.
  5. Pham Do, K.H. & Norde, H.W., 2002. "The Shapley Value for Partition Function Form Games," Discussion Paper 2002-4, Tilburg University, Center for Economic Research.
  6. M. J. Albizuri & J. Arin & J. Rubio, 2005. "An Axiom System For A Value For Games In Partition Function Form," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 7(01), pages 63-72.
  7. Macho-Stadler, Ines & Perez-Castrillo, David & Wettstein, David, 2007. "Sharing the surplus: An extension of the Shapley value for environments with externalities," Journal of Economic Theory, Elsevier, vol. 135(1), pages 339-356, July.
  8. Ray, Debraj, 2007. "A Game-Theoretic Perspective on Coalition Formation," OUP Catalogue, Oxford University Press, number 9780199207954.
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Citations

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Cited by:
  1. Inés Macho-Stadler & David Pérez-Castrillo & David Wettstein, 2010. "Dividends and weighted values in games with externalities," International Journal of Game Theory, Springer, vol. 39(1), pages 177-184, March.
  2. Cheng-Cheng Hu & Yi-You Yang, 2010. "An axiomatic characterization of a value for games in partition function form," SERIEs, Spanish Economic Association, vol. 1(4), pages 475-487, September.
  3. Effrosyni Diamantoudi & Inés Macho-Stadler & David Pérez-Castrillo & Licun Xue, 2011. "Sharing the surplus in games with externalities within and across issues," Working Papers 569, Barcelona Graduate School of Economics.
  4. van den Brink, René & van der Laan, Gerard & Moes, Nigel, 2012. "Fair agreements for sharing international rivers with multiple springs and externalities," Journal of Environmental Economics and Management, Elsevier, vol. 63(3), pages 388-403.
  5. Dominik Karos, 2013. "Bargaining and Power," Working Papers 2013.63, Fondazione Eni Enrico Mattei.
  6. Mikel Álvarez-Mozos & Oriol Tejada Pinyol, 2014. "The Banzhaf Value in the Presence of Externalities," UB Economics Working Papers 2014/302, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.

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