The Probabilistic Representative Values
AbstractIn this paper we define a new family of solutions for the class of cooperative games with transferable utility, in which the set of players exhibits a structure of a priori unions.This family is deeply connected with the Shapley value for games with transferable utility but, moreover, we assume a solidarity strong connection among all the components of each union.As a consequence of this, they are disposed to delegate one coalition of members of the union to negotiate with the other unions, and, therefore, each union will have a representative coalition.Furthermore, three interesting solutions that belong to this family of values are studied, as well as the non cooperative selection of the best representative coalition for each union.
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Bibliographic InfoPaper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2005-106.
Date of creation: 2005
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Web page: http://center.uvt.nl
TU-games with unions; Shapley value; representative coalition;
Find related papers by JEL classification:
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
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