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A new value for cooperative games based on coalition size

Author

Listed:
  • Surajit Borkotokey
  • Dhrubajit Choudhury
  • Rajnish Kumar
  • Sudipta Sarangi

Abstract

We propose and characterize a new value for TU cooperative games based on egalitarian distribution of worths in smaller coalitions and players' marginal productivity in larger coalitions. This value belongs to the class of Procedural values due to Malawski. Our value is identical with the Shapley value on one extreme and the Equal Division rule on the other extreme. We show that our value is identical with the solidarity value due to Bèal et al. of the dual game. However, by duality, our characterization intuitively improves over the axiomatization of this solidarity value. We also provide a mechanism that implements our value in sub‐game perfect Nash equilibrium. Finally, a generalized version of this value is proposed followed by its characterizations.

Suggested Citation

  • Surajit Borkotokey & Dhrubajit Choudhury & Rajnish Kumar & Sudipta Sarangi, 2023. "A new value for cooperative games based on coalition size," International Journal of Economic Theory, The International Society for Economic Theory, vol. 19(4), pages 830-854, December.
    • Handle: RePEc:bla:ijethy:v:19:y:2023:i:4:p:830-854
    DOI: 10.1111/ijet.12381
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    References listed on IDEAS

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    1. Emilio Calvo & Esther Gutiérrez-López, 2016. "A strategic approach for the discounted Shapley values," Theory and Decision, Springer, vol. 80(2), pages 271-293, February.
    2. Emilio Calvo & Esther Gutiérrez-López, 2016. "A strategic approach for the discounted Shapley values," Theory and Decision, Springer, vol. 80(2), pages 271-293, February.
    3. Takaaki Abe & Satoshi Nakada, 2019. "The weighted-egalitarian Shapley values," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 52(2), pages 197-213, February.
    4. Borkotokey, Surajit & Choudhury, Dhrubajit & Kumar, Rajnish & Sarangi, Sudipta, 2020. "Consolidating Marginalism and Egalitarianism: A New Value for Transferable Utility Games," QBS Working Paper Series 2020/12, Queen's University Belfast, Queen's Business School.
    5. Borkotokey, Surajit & Kumar, Rajnish & Sarangi, Sudipta, 2015. "A solution concept for network games: The role of multilateral interactions," European Journal of Operational Research, Elsevier, vol. 243(3), pages 912-920.
    6. Casajus, André & Huettner, Frank, 2013. "Null players, solidarity, and the egalitarian Shapley values," Journal of Mathematical Economics, Elsevier, vol. 49(1), pages 58-61.
    7. René Brink & Yukihiko Funaki & Yuan Ju, 2013. "Reconciling marginalism with egalitarianism: consistency, monotonicity, and implementation of egalitarian Shapley values," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 40(3), pages 693-714, March.
    8. André Casajus, 2011. "Differential marginality, van den Brink fairness, and the Shapley value," Theory and Decision, Springer, vol. 71(2), pages 163-174, August.
    9. van den Brink, Rene, 2007. "Null or nullifying players: The difference between the Shapley value and equal division solutions," Journal of Economic Theory, Elsevier, vol. 136(1), pages 767-775, September.
    10. Marcin Malawski, 2013. "“Procedural” values for cooperative games," International Journal of Game Theory, Springer;Game Theory Society, vol. 42(1), pages 305-324, February.
    11. Casajus, André & Huettner, Frank, 2014. "Weakly monotonic solutions for cooperative games," Journal of Economic Theory, Elsevier, vol. 154(C), pages 162-172.
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