The MC-value for monotonic NTU-games
AbstractThe MC-value is introduced as a new single-valued solution concept for monotonic NTU-games. The MC-value is based on marginal vectors, which are extensions of the well-known marginal vectors for TU-games and hyperplane games. As a result of the definition it follows that the MC-value coincides with the Shapley value for TU-games and with the consistent Shapley value for hyperplane games. It is shown that on the class of bargaining games the MC-value coincides with the Raiffa-Kalai-Smorodinsky solution. Furthermore, two characterizations of the MC-value are provided on subclasses of NTU-games which need not be convex valued. This allows for a comparison between the MC-value and the egalitarian solution introduced by Kalai and Samet (1985).
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Bibliographic InfoPaper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-77114.
Date of creation: 1998
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Publication status: Published in International Journal of Game Theory (1998) v.27, p.37-47
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Web page: http://www.tilburguniversity.edu/
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