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Uncertain Participation

Author

Listed:
  • Péter Bayer
  • Mánuel László Mágó

Abstract

We introduce participation uncertainty to the theory of cooperative TU- games. Under participation uncertainty, each coalition's effective value is an expected value taken over the (full) value of its subsets. We identify 'constant-marginal' participation as a key property for various economic problems to be well-behaved. This class of uncertainty environments is closed for mixing and composition. Under this property, solution concepts are easily calculated, two-sided markets clear and are insurable, and voting power under uncertain participation can be characterized and efficiently computed.

Suggested Citation

  • Péter Bayer & Mánuel László Mágó, 2026. "Uncertain Participation," Working Papers 1590, Barcelona School of Economics.
    • Handle: RePEc:bge:wpaper:1590
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    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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