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Externalities, Potential, Value And Consistency

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Author Info
Bhaskar Dutta (Department of Economics University of Warwick)
Lars Ehlers (Départment de Sciences Économiques Université de Montréal, Québec)
Anirban Kar (Department of Economics, Delhi School of Economics, Delhi, India)

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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 satis es one form of reduced game consistency.

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Publisher Info
Paper provided by Centre for Development Economics, Delhi School of Economics in its series Working papers with number 168.

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Length: 35 pages
Date of creation: Jul 2008
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Handle: RePEc:cde:cdewps:168

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Related research
Keywords: Shapley value; potential; consistency; games in partition function form.;

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  1. 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. [Downloadable!] (restricted)
  2. 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. [Downloadable!] (restricted)
  3. Geoffroy de Clippel & Roberto Serrano, 2007. "Marginal contributions and externalities in the value," Working Papers 2007-04, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales. [Downloadable!]
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  4. 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.
  5. Moulin, Herve, 1985. "The separability axiom and equal-sharing methods," Journal of Economic Theory, Elsevier, vol. 36(1), pages 120-148, June. [Downloadable!] (restricted)
  6. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May. [Downloadable!] (restricted)
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