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A Simple Bargaining Procedure for the Myerson Value

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  • Noemí Navarro

    ()
    (Departement d’Économique et GREDI, Université de Sherbrooke)

  • Andrés Perea

    ()
    (Department of Quantitative Economics, Maastricht University)

Abstract

We consider situations where the cooperation and negotiation possibilities between pairs of agents are given by an undirected graph. Every connected component of agents has a value, which is the total surplus the agents can generate by working together. We present a simple, sequential, bilateral bargaining procedure, in which at every stage the two agents in a link (i, j) bargain about their share from cooperation in the connected component they are part of. We show that, if the marginal value of a link is increasing in the number of links in the connected component it belongs to, then this procedure yields exactly the Myerson value payoff (Myerson, 1977) for every player.

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File URL: http://gredi.recherche.usherbrooke.ca/wpapers/GREDI-1029.pdf
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Paper provided by Departement d'Economique de la Faculte d'administration à l'Universite de Sherbrooke in its series Cahiers de recherche with number 10-29.

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Length: 23 pages
Date of creation: 15 Nov 2010
Date of revision:
Handle: RePEc:shr:wpaper:10-29

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Keywords: Myerson value; networks; bargaining; cooperation;

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  1. Nouweland, C.G.A.M. van den & Borm, P.E.M., 1991. "On the convexity of communication games," Open Access publications from Tilburg University urn:nbn:nl:ui:12-146634, Tilburg University.
  2. Perez-Castrillo, David & Wettstein, David, 2001. "Bidding for the Surplus : A Non-cooperative Approach to the Shapley Value," Journal of Economic Theory, Elsevier, vol. 100(2), pages 274-294, October.
  3. Vidal-Puga, Juan & Bergantinos, Gustavo, 2003. "An implementation of the Owen value," Games and Economic Behavior, Elsevier, vol. 44(2), pages 412-427, August.
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