IDEAS home Printed from https://ideas.repec.org/a/wsi/igtrxx/v06y2004i04ns0219198904000307.html
   My bibliography  Save this article

Consistency In Values

Author

Listed:
  • GUILLERMO OWEN

    (Department of Mathematics, Naval Postgraduate School, Monterey, CA 93943, USA)

Abstract

Given ann-person game(N, v), a reduced game(T, vT)is the game obtained if some subsetTof the players assumes reasonable behavior on the part of the remaining players and uses that as a given so as to bargain withinT. This "reasonable" behavior on the part ofN-Tmust be defined in terms of some solution concept, ϕ, and so the reduced game depends on ϕ. Then, the solution concept ϕ is said to be consistent if it gives the same result to the reduced games as it does to the original game.It turns out that, given a symmetry condition on two-person games, the Shapley value is the only consistent solution on the space of TU games. Modification of some definitions will instead give the prekernel, the prenucleolus, or the weighted Shapley values.A generalization to NTU games is given. This works well for the class of hyperplane games, but not quite so well for general games.

Suggested Citation

  • Guillermo Owen, 2004. "Consistency In Values," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 6(04), pages 461-473.
    • Handle: RePEc:wsi:igtrxx:v:06:y:2004:i:04:n:s0219198904000307
    DOI: 10.1142/S0219198904000307
    as

    Download full text from publisher

    File URL: http://www.worldscientific.com/doi/abs/10.1142/S0219198904000307
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1142/S0219198904000307?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Game theory; values; consistency;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wsi:igtrxx:v:06:y:2004:i:04:n:s0219198904000307. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Tai Tone Lim (email available below). General contact details of provider: http://www.worldscinet.com/igtr/igtr.shtml .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.