Games on Union Closed Systems
AbstractA situation in which a finite set of players can obtain certain payoffs by cooperation can be described by a cooperative game with transferable utility, or simply a TU-game. A solution for TU-games assigns a set of payoff distributions to every TU-game. In the literature various models of games with restricted cooperation can be found. So, instead of allowing all subsets of the player set N to form, it is assumed that the set of feasible coalitions is a subset of the power set of N. In this paper we consider such sets of feasible coalitions that are closed under union, i.e. for any two feasible coalitions also their union is feasible. Properties of solutions (the core, the nucleolus, the prekernel and the Shapley value) are given for games on union closed systems.
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Bibliographic InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 11-036/1.
Date of creation: 14 Feb 2011
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TU-game; restricted cooperation; union closed system; core; prekernel; nucleolus;
Find related papers by JEL classification:
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-26 (All new papers)
- NEP-GTH-2011-02-26 (Game Theory)
- NEP-NET-2011-02-26 (Network Economics)
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