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Representations Of Positive Projections On Lipschitz Vector

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  • Omer Edhan

Abstract

Among the single-valued solution concepts studied in cooperative game theory and economics, those which are also positive projections play an important role. The value, semivalues, and quasivalues of a cooperative game are several examples of solution concepts which are positive projections. These solution concepts are known to have many important applications in economics. In many applications the specific positive projection discussed is represented as an expectation of marginal contributions of agents to ``random" coalitions. Usually these representations are used to characterize positive projections obeying certain additional axioms. It is thus of interest to study the representation theory of positive projections and its relation with some common axioms. We study positive projections defined over certain spaces of nonatomic Lipschitz vector measure games. To this end, we develop a general notion of ``calculus" for such games, which in a manner extends the notion of the Radon-Nykodim derivative for measures. We prove several representation results for positive projections, which essentially state that the image of a game under the action of a positive projection can be represented as an averaging of its derivative w.r.t. some vector measure. We then introduce a specific calculus for the space $\mathcal{CON}$ generated by concave, monotonically nondecreasing, and Lipschitz continuous functions of finitely many nonatomic probability measures. We study in detail the properties of the resulting representations of positive projections on $\mathcal{CON}$ and especially those of values on $\mathcal{CON}$. The latter results are of great importance in various applications in economics.

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Bibliographic Info

Paper provided by The Center for the Study of Rationality, Hebrew University, Jerusalem in its series Discussion Paper Series with number dp624.

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Length: 32 pages
Date of creation: Aug 2012
Date of revision:
Handle: RePEc:huj:dispap:dp624

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  1. Hart, Sergiu & Neyman, Abraham, 1988. "Values of non-atomic vector measure games : Are they linear combinations of the measures?," Journal of Mathematical Economics, Elsevier, vol. 17(1), pages 31-40, February.
  2. Ori Haimanko, 2000. "Value theory without symmetry," International Journal of Game Theory, Springer, vol. 29(3), pages 451-468.
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Cited by:
  1. Omer Edhan, 2012. "Payoffs in Nondifferentiable Perfectly Competitive TU Economies," Discussion Paper Series dp629, The Center for the Study of Rationality, Hebrew University, Jerusalem.

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