Stable syndicates of factor owners and distribution of social output: a Shapley value approach
AbstractThe purpose of this paper is to examine the incentive of a player to join a syndicate in an environment of team production and payoff distribution according to Shapley value. We consider an economy in which a single output is produced by an increasing returns to scale production function using two inputs: labor and capital. By assuming that syndicates of factor owners can form, we are interested in their stability, i.e., the willingness of the members of the syndicate to stay in the syndicate. Our analysis, based on the Shapley value, allows us to find a fair imputation of the gains of cooperation and the conditions under which syndicates are stable.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 39 (2012)
Issue (Month): 2 (July)
Contact details of provider:
Web page: http://link.springer.de/link/service/journals/00355/index.htm
Other versions of this item:
- Fabrice Valognes & Hélène Ferrer & Guillermo Owen, 2012. "Stable syndicates of factor owners and distribution of social output: a Shapley value approach," Post-Print halshs-00651185, HAL.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Guesnerie Roger, 1976.
"Monopoly, syndicate and shapley value : about some conjectures,"
CEPREMAP Working Papers (Couverture Orange)
- Guesnerie, Roger, 1977. "Monopoly, syndicate, and shapley value: About some conjectures," Journal of Economic Theory, Elsevier, vol. 15(2), pages 235-251, August.
- HANSEN, Terje & JASKOLD GABSZEWICZ, Jean, .
"Collusion of factor owners and distribution of social output,"
CORE Discussion Papers RP
-101, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Hansen, Terje & Jaskold-Gabszewicz, Jean, 1972. "Collusion of factor owners and distribution of social output," Journal of Economic Theory, Elsevier, vol. 4(1), pages 1-18, February.
- Aumann, Robert J., 1973. "Disadvantageous monopolies," Journal of Economic Theory, Elsevier, vol. 6(1), pages 1-11, February.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.