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Single NTU-value solutions

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Author Info
Emililo Calvo (Dep. of Economic Analysis. University of Valencia)

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Abstract

We propose a variation of the Hart and Mas-Colell non-cooperative bargaining model for n-person games in coalitional form. This strategic game implements, in the limit, a new NTU-value for the class of monotonic games. This value coincides with the Maschler and Owen value for hyperplane games, and with the Shapley value for TU games. The main characteristic of this proposal is that always select a unique payoff allocation. This value can also be considered as an extension of the Nash bargaining solution. Variations of this model yield extensions of the Discrete Raiffa solution, and the Kalai-Smorodinsky solution.

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Publisher Info
Paper provided by EconWPA in its series Game Theory and Information with number 0405004.

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Length: 31 pages
Date of creation: 05 May 2004
Date of revision: 10 Jun 2004
Handle: RePEc:wpa:wuwpga:0405004

Note: Type of Document - pdf; pages: 31
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Web page: http://129.3.20.41

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Related research
Keywords: Shapley value; NTU-value solutions; Nash Bargaining; Raiffa solution; Kali-Smorodinsky solution.;

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Find related papers by JEL classification:
C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games

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  1. Hart, Sergiu, 1985. "An Axiomatization of Harsanyi's Nontransferable Utility Solution," Econometrica, Econometric Society, vol. 53(6), pages 1295-1313, November. [Downloadable!] (restricted)
    Other versions:
  2. Hart, Oliver & Moore, John, 1990. "Property Rights and the Nature of the Firm," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1119-58, December. [Downloadable!] (restricted)
    Other versions:
  3. Ken Binmore & Ariel Rubinstein & Asher Wolinsky, 1986. "The Nash Bargaining Solution in Economic Modelling," RAND Journal of Economics, The RAND Corporation, vol. 17(2), pages 176-188, Summer. [Downloadable!] (restricted)
  4. Moulin, H., 1984. "Implementing the Kalai-Smorodinsky bargaining solution," Journal of Economic Theory, Elsevier, vol. 33(1), pages 32-45, June. [Downloadable!] (restricted)
  5. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May. [Downloadable!] (restricted)
  6. Maschler, M & Owen, G, 1989. "The Consistent Shapley Value for Hyperplane Games," International Journal of Game Theory, Springer, vol. 18(4), pages 389-407.
  7. Aumann, Robert J, 1985. "An Axiomatization of the Non-transferable Utility Value," Econometrica, Econometric Society, vol. 53(3), pages 599-612, May. [Downloadable!] (restricted)
  8. Winter, Eyal, 1994. "The Demand Commitment Bargaining and Snowballing Cooperation," Economic Theory, Springer, vol. 4(2), pages 255-73, March.
  9. Sjostrom, Tomas, 1991. "Stahl's bargaining model," Economics Letters, Elsevier, vol. 36(2), pages 153-157, June. [Downloadable!] (restricted)
  10. Hart, Sergiu & Mas-Colell, Andreu, 1996. "Bargaining and Value," Econometrica, Econometric Society, vol. 64(2), pages 357-80, March. [Downloadable!] (restricted)
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  11. Armando Gomes & Sergiu Hart & Andreu Mas-Colell, 1997. "Finite Horizon Bargaining and the Consistent Field," Game Theory and Information 9705003, EconWPA. [Downloadable!]
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  12. 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. [Downloadable!] (restricted)
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  13. Sergiu Hart, 2003. "An Axiomatization of the Consistent Non-Transferable Utility Value," Discussion Paper Series dp337, Center for Rationality and Interactive Decision Theory, Hebrew University, Jerusalem. [Downloadable!]
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  14. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April. [Downloadable!] (restricted)
  15. Ehud Kalai & Dov Samet, 1983. "On Weighted Shapley Values," Discussion Papers 602, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  16. Roger B. Myerson, 1978. "Conference Structures and Fair Allocation Rules," Discussion Papers 363, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
  17. Roth, Alvin E., 1977. "Independence of irrelevant alternatives, and solutions to Nash's bargaining problem," Journal of Economic Theory, Elsevier, vol. 16(2), pages 247-251, December. [Downloadable!] (restricted)
  18. Emilio Calvo & Iñaki Garci´a & José M. Zarzuelo, 2001. "Replication invariance on NTU games," International Journal of Game Theory, Springer, vol. 29(4), pages 473-486. [Downloadable!] (restricted)
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