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Potential maximizers and network formation

  • Slikker, Marco
  • Dutta, Bhaskar
  • van den Nouweland, Anne
  • Tijs, Stef

In this paper we study the formation of cooperation structures in superadditive cooperative TU-games.Cooperation structures are represented by hypergraphs.The formation process is modelled as a game in strategic form, where the payoffs are determined according to a weighted (extended) Myerson value.This class of solution concepts turns out to be the unique class resulting in weighted potential games.The argmax set of the weighted potential predicts the formation of the complete structure and structures payoff-equivalent to the complete structure.As by-products we obtain a representation theorem of weighted potential games in terms of weighted Shapley values and a characterization of the weighted (extended) Myerson values.

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Article provided by Elsevier in its journal Mathematical Social Sciences.

Volume (Year): 39 (2000)
Issue (Month): 1 (January)
Pages: 55-70

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Handle: RePEc:eee:matsoc:v:39:y:2000:i:1:p:55-70
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505565

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  1. Dutta, B. & van den Nouweland, C.G.A.M. & Tijs, S.H., 1995. "Link formation in cooperative situations," Discussion Paper 1995-35, Tilburg University, Center for Economic Research.
  2. Hart, Sergiu & Kurz, Mordecai, 1983. "Endogenous Formation of Coalitions," Econometrica, Econometric Society, vol. 51(4), pages 1047-64, July.
  3. Crawford, Vincent P., 1991. "An "evolutionary" interpretation of Van Huyck, Battalio, and Beil's experimental results on coordination," Games and Economic Behavior, Elsevier, vol. 3(1), pages 25-59, February.
  4. Van Huyck, John B & Battalio, Raymond C & Beil, Richard O, 1990. "Tacit Coordination Games, Strategic Uncertainty, and Coordination Failure," American Economic Review, American Economic Association, vol. 80(1), pages 234-48, March.
  5. Monderer, Dov & Shapley, Lloyd S., 1996. "Potential Games," Games and Economic Behavior, Elsevier, vol. 14(1), pages 124-143, May.
  6. Qin, Cheng-Zhong, 1996. "Endogenous Formation of Cooperation Structures," Journal of Economic Theory, Elsevier, vol. 69(1), pages 218-226, April.
  7. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May.
  8. repec:dgr:kubcen:199535 is not listed on IDEAS
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