How to share when context matters: The Mobius value as a generalized solution for cooperative games
All quasivalues rest on a set of three basic axioms (efficiency, null player, and additivity), which are augmented with positivity for random order values, and with positivity and partnership for weighted values. We introduce the concept of Moebius value associated with a o sharing system and show that this value is characterized by the above three axioms. We then establish that (i) a Moebius value is a random o order value if and only if the sharing system is stochastically rationalizable and (ii) a Moebius value is a weighted value if and only if the o sharing system satisfies the Luce choice axiom.
(This abstract was borrowed from another version of this item.)
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- repec:cor:louvrp:-1434 is not listed on IDEAS
- Ehud Kalai & Dov Samet, 1983. "On Weighted Shapley Values," Discussion Papers 602, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Chun, Youngsub, 1991. "On the Symmetric and Weighted Shapley Values," International Journal of Game Theory, Springer;Game Theory Society, vol. 20(2), pages 183-190.
- Nowak Andrzej S. & Radzik Tadeusz, 1994. "The Shapley Value for n-Person Games in Generalized Characteristic Function Form," Games and Economic Behavior, Elsevier, vol. 6(1), pages 150-161, January.
- Sergiu Hart, 2006. "Shapley Value," Discussion Paper Series dp421, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
- Michel Grabisch & Fabien Lange, 2006. "Interaction transform for bi-set functions over a finite set," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00186891, HAL.
- Monderer, Dov & Samet, Dov, 2002. "Variations on the shapley value," Handbook of Game Theory with Economic Applications,in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 3, chapter 54, pages 2055-2076 Elsevier.
- BILLOT, Antoine & THISSE, Jacques-François, "undated". "A discrete choice model when context matters," CORE Discussion Papers RP 1434, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).