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Externalities, Potential, Value And Consistency

Author

Listed:
  • 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)

Abstract

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.

Suggested Citation

  • Bhaskar Dutta & Lars Ehlers & Anirban Kar, 2008. "Externalities, Potential, Value And Consistency," Working papers 168, Centre for Development Economics, Delhi School of Economics.
  • Handle: RePEc:cde:cdewps:168
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    References listed on IDEAS

    as
    1. Ray, Debraj, 2007. "A Game-Theoretic Perspective on Coalition Formation," OUP Catalogue, Oxford University Press, number 9780199207954.
    2. Bolger, E M, 1989. "A Set of Axioms for a Value for Partition Function Games," International Journal of Game Theory, Springer;Game Theory Society, vol. 18(1), pages 37-44.
    3. Moulin, Herve, 1985. "The separability axiom and equal-sharing methods," Journal of Economic Theory, Elsevier, vol. 36(1), pages 120-148, June.
    4. Aumann, Robert J. & Maschler, Michael, 1985. "Game theoretic analysis of a bankruptcy problem from the Talmud," Journal of Economic Theory, Elsevier, vol. 36(2), pages 195-213, August.
    5. Geoffroy de Clippel & Roberto Serrano, 2008. "Marginal Contributions and Externalities in the Value," Econometrica, Econometric Society, vol. 76(6), pages 1413-1436, November.
    6. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May.
    7. 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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    Citations

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    Cited by:

    1. Mikel ÁLVAREZ-MOZOS & Lars EHLERS, 2017. "Externalities and the Nucleolus," Cahiers de recherche 08-2017, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    2. Ines Macho-Stadler & David Pérez-Castrillo & David Wettstein, 2016. "Values for Environments with Externalities - The Average Approach," CESifo Working Paper Series 6002, CESifo Group Munich.
    3. Dominik Karos, 2013. "Bargaining and Power," Working Papers 2013.63, Fondazione Eni Enrico Mattei.
    4. Ines Macho-Stadler & David Perez-Castrillo & David Wettstein, 2017. "Extensions Of The Shapley Value For Environments With Externalities," Working Papers 1716, Ben-Gurion University of the Negev, Department of Economics.
    5. Effrosyni Diamantoudi & Inés Macho-Stadler & David Pérez-Castrillo & Licun Xue, 2015. "Sharing the surplus in games with externalities within and across issues," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 60(2), pages 315-343, October.
    6. repec:eee:gamebe:v:105:y:2017:i:c:p:148-154 is not listed on IDEAS
    7. van den Brink, René & van der Laan, Gerard & Moes, Nigel, 2012. "Fair agreements for sharing international rivers with multiple springs and externalities," Journal of Environmental Economics and Management, Elsevier, vol. 63(3), pages 388-403.
    8. Inés Macho-Stadler & David Pérez-Castrillo & David Wettstein, 2010. "Dividends and weighted values in games with externalities," International Journal of Game Theory, Springer;Game Theory Society, vol. 39(1), pages 177-184, March.
    9. M. Álvarez-Mozos & O. Tejada, 2015. "The Banzhaf value in the presence of externalities," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 44(4), pages 781-805, April.
    10. Bloch, Francis & van den Nouweland, Anne, 2014. "Expectation formation rules and the core of partition function games," Games and Economic Behavior, Elsevier, vol. 88(C), pages 339-353.
    11. Cheng-Cheng Hu & Yi-You Yang, 2010. "An axiomatic characterization of a value for games in partition function form," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 1(4), pages 475-487, September.
    12. José María Alonso-Meijide & Mikel Álvarez-Mozos & María Gloria Fiestras-Janeiro, 2015. "Power Indices and Minimal Winning Coalitions in Simple Games with Externalities Abstract: We propose a generalization of simple games to situations with coalitional externalities. The main novelty of ," UB Economics Working Papers 2015/328, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.
    13. Borm, Peter & Ju, Yuan & Wettstein, David, 2015. "Rational bargaining in games with coalitional externalities," Journal of Economic Theory, Elsevier, vol. 157(C), pages 236-254.
    14. Mikel Alvarez-Mozos & José María Alonso-Meijide & María Gloria Fiestras-Janeiro, 2016. "The Shapley-Shubik Index in the Presence of Externalities," UB Economics Working Papers 2016/342, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.
    15. José María Alonso-Meijide & Mikel Alvarez-Mozos & María Gloria Fiestras-Janeiro & Andrés Jiménez-Losada, 2016. "Some structural properties of a lattice of embedded coalitions," UB Economics Working Papers 2016/349, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.

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    Keywords

    Shapley value; potential; consistency; games in partition function form.;

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