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Externalities, Potential, Value and Consistency

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Author Info

  • DUTTA, Bhaskar
  • EHLERS, Lars
  • KAR, Anirban

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 satisfies one form of reduced game consistency.

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Bibliographic Info

Paper provided by Centre interuniversitaire de recherche en économie quantitative, CIREQ in its series Cahiers de recherche with number 06-2008.

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Length: 43 pages
Date of creation: 2008
Date of revision:
Handle: RePEc:mtl:montec:06-2008

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Related research

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

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References

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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.
  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.
  3. Ray, Debraj, 2007. "A Game-Theoretic Perspective on Coalition Formation," OUP Catalogue, Oxford University Press, number 9780199207954, September.
  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. Geoffroy de Clippel & Roberto Serrano, 2005. "Marginal Contributions and Externalities in the Value," Working Papers 2005-11, Brown University, Department of Economics.
  6. Moulin, Herve, 1985. "The separability axiom and equal-sharing methods," Journal of Economic Theory, Elsevier, vol. 36(1), pages 120-148, June.
  7. Kim Hang Pham Do & Henk Norde, 2007. "The Shapley Value For Partition Function Form Games," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 9(02), pages 353-360.
  8. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May.
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Citations

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Cited by:
  1. Inés Macho-Stadler & David Pérez-Castrillo & David Wettstein, 2008. "Dividends and Weighted Values in Games with Externalities," UFAE and IAE Working Papers 758.08, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  2. Effrosyni Diamantoudi & Inés Macho-Stadler & David Pérez-Castrillo & Licun Xue, 2011. "Sharing the surplus in games with externalities within and across issues," Working Papers 569, Barcelona Graduate School of Economics.
  3. Cheng-Cheng Hu & Yi-You Yang, 2010. "An axiomatic characterization of a value for games in partition function form," SERIEs, Spanish Economic Association, vol. 1(4), pages 475-487, September.

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