The collective value: a new solution for games with coalition structures
In this study, we provide a new solution for cooperative games with coalition structures. The collective value of a player is defined as the sum of the equal division of the pure surplus obtained by his coalition from the coalitional bargaining and of his Shapley value for the internal coalition. The weighted Shapley value applied to a game played by coalitions with coalition-size weights is assigned to each coalition, reflecting the size asymmetries among coalitions. We show that the collective value matches exogenous interpretations of coalition structures and provide an axiomatic foundation of this value. A noncooperative mechanism that implements the collective value is also presented. Copyright Sociedad de Estadística e Investigación Operativa 2013
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.
Volume (Year): 21 (2013)
Issue (Month): 3 (October)
|Contact details of provider:|| Web page: http://www.springerlink.com/link.asp?id=120409|
|Order Information:||Web: http://link.springer.de/orders.htm|
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.:
- 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.
- David Pérez-Castrillo & David Wettstein, . "Bidding For The Surplus: A Non-Cooperative Approach To The Shapley Value," UFAE and IAE Working Papers 461.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Casajus, André, 2009. "Outside options, component efficiency, and stability," Games and Economic Behavior, Elsevier, vol. 65(1), pages 49-61, January.
- van den Brink, Rene & van der Laan, Gerard, 2005.
"A class of consistent share functions for games in coalition structure,"
Games and Economic Behavior,
Elsevier, vol. 51(1), pages 193-212, April.
- van den Brink, J.R. & van der Laan, G., 2001. "A Class of Consistent Share Functions For Games in Coalition Structure," Discussion Paper 2001-33, Tilburg University, Center for Economic Research.
- Ren� van den Brink & Gerard van der Laan, 2001. "A Class of Consistent Share Functions for Games in Coalition Structure," Tinbergen Institute Discussion Papers 01-044/1, Tinbergen Institute.
- Calvo, Emilio & Javier Lasaga, J. & Winter, Eyal, 1996. "The principle of balanced contributions and hierarchies of cooperation," Mathematical Social Sciences, Elsevier, vol. 31(3), pages 171-182, June.
- Levy, Anat & Mclean, Richard P., 1989. "Weighted coalition structure values," Games and Economic Behavior, Elsevier, vol. 1(3), pages 234-249, September.
- Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May.
- Hart, Sergiu & Kurz, Mordecai, 1983. "Endogenous Formation of Coalitions," Econometrica, Econometric Society, vol. 51(4), pages 1047-64, July.
- Yoshio Kamijo, 2009. "A Two-Step Shapley Value For Cooperative Games With Coalition Structures," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 11(02), pages 207-214.
- Kamijo, Yoshio, 2008. "Implementation of weighted values in hierarchical and horizontal cooperation structures," Mathematical Social Sciences, Elsevier, vol. 56(3), pages 336-349, November.
- Vidal-Puga, Juan & Bergantinos, Gustavo, 2003. "An implementation of the Owen value," Games and Economic Behavior, Elsevier, vol. 44(2), pages 412-427, August.
When requesting a correction, please mention this item's handle: RePEc:spr:topjnl:v:21:y:2013:i:3:p:572-589. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Christopher F Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.