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How outside options are incorporated into payoff distributions

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  • Takaaki Abe

Abstract

This paper examines how outside options are incorporated into payoff distributions in games with coalition structures. We introduce and characterize the alpha-value, which "fully" incorporates outside options, and provide a new characterization of the Aumann-Dreze value as an allocation rule that does not incorporate outside options. We show that the chi-value (Casajus, 2009) is a component-wise convex combination of these two values and thus incorporates outside options in a discounted form.

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  • Takaaki Abe, 2026. "How outside options are incorporated into payoff distributions," Papers 2609.00799, arXiv.org.
    • Handle: RePEc:arx:papers:2609.00799
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    File URL: https://arxiv.org/pdf/2609.00799
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