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Externalities, Potential, Value And Consistency

  • Bhaskar Dutta

    (Department of Economics University of Warwick)

  • Lars Ehlers

    (Départment de Sciences Économiques Université de Montréal, Québec)

  • Anirban Kar

    (Department of Economics, Delhi School of Economics, Delhi, India)

We provide new characterization results for the value of games in partition function form. In particular, we use the potential of a game to define the value. We also provide a characterization of the class of values which satis es one form of reduced game consistency.

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Paper provided by Centre for Development Economics, Delhi School of Economics in its series Working papers with number 168.

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Length: 35 pages
Date of creation: Jul 2008
Date of revision:
Handle: RePEc:cde:cdewps:168
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  1. Ray, Debraj, 2007. "A Game-Theoretic Perspective on Coalition Formation," OUP Catalogue, Oxford University Press, number 9780199207954, March.
  2. 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.
  3. Geoffroy de Clippel & Roberto Serrano, 2005. "Marginal Contributions and Externalities in the Value," Working Papers 2005-11, Brown University, Department of Economics.
  4. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May.
  5. 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.
  6. Bolger, E M, 1989. "A Set of Axioms for a Value for Partition Function Games," International Journal of Game Theory, Springer, vol. 18(1), pages 37-44.
  7. Moulin, Herve, 1985. "The separability axiom and equal-sharing methods," Journal of Economic Theory, Elsevier, vol. 36(1), pages 120-148, June.
  8. 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.
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