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Sharing the surplus in games with externalities within and across issues

  • Effrosyni Diamantoudi
  • Inés Macho-Stadler
  • David Pérez-Castrillo
  • Licun Xue

We consider environments in which agents can cooperate on multiple issues and externalities are present both within and across issues. We propose a way to extend (Shapley) values that have been put forward to deal with externalities within issues to games where there are externalities within and across issues. We characterize our proposal through axioms that extend the Shapley axioms to our more general environment.

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Paper provided by Barcelona Graduate School of Economics in its series Working Papers with number 569.

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Date of creation: Aug 2011
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Handle: RePEc:bge:wpaper:569
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  1. Inés Macho-Stadler & David Pérez-Castrillo & David Wettstein, 2005. "Efficient Bidding with Externalities," UFAE and IAE Working Papers 641.05, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  2. Bloch, Francis & de Clippel, Geoffroy, 2010. "Cores of combined games," Journal of Economic Theory, Elsevier, vol. 145(6), pages 2424-2434, November.
  3. Kim Hang Pham Do & Henk Norde, 2007. "The Shapley Value For Partition Function Form Games," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 9(02), pages 353-360.
  4. Macho-Stadler, Ines & Perez-Castrillo, David & Wettstein, David, 2007. "Sharing the surplus: An extension of the Shapley value for environments with externalities," Journal of Economic Theory, Elsevier, vol. 135(1), pages 339-356, July.
  5. Bulow, Jeremy I & Geanakoplos, John D & Klemperer, Paul D, 1985. "Multimarket Oligopoly: Strategic Substitutes and Complements," Journal of Political Economy, University of Chicago Press, vol. 93(3), pages 488-511, June.
  6. Dutta, Bhaskar & Ehlers, Lars & Kar, Anirban, 2010. "Externalities, potential, value and consistency," Journal of Economic Theory, Elsevier, vol. 145(6), pages 2380-2411, November.
  7. Geoffroy de Clippel & Roberto Serrano, 2008. "Marginal Contributions and Externalities in the Value," Econometrica, Econometric Society, vol. 76(6), pages 1413-1436, November.
  8. M. J. Albizuri & J. Arin & J. Rubio, 2005. "An Axiom System For A Value For Games In Partition Function Form," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 7(01), pages 63-72.
  9. McQuillin, Ben, 2008. "The extended and generalized Shapley value: Simultaneous consideration of coalitional externalities and coalitional structure," MPRA Paper 12049, University Library of Munich, Germany.
  10. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May.
  11. Beja, A & Gilboa, Itzhak, 1990. "Values for Two-Stage Games: Another View of the Shapley Axioms," International Journal of Game Theory, Springer, vol. 19(1), pages 17-31.
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