We propose a new type of values for cooperative TU-games, which we call pyramidal values. Assuming that the grand coalition is sequentially formed, and all orderings are equally likely, we define a pyramidal value to be any expected payoff in which the entrant player receives a salary and the right to get part of the benefits derived from subsequent incorporations to the just formed coalition, whereas the remaining benefit is distributed among the incumbent players. To be specific, we consider some parametric families of pyramidal values: the egalitarian pyramidal family, which coincides with the a-consensus value family introduced by Ju et al. in (2007), the proportional pyramidal family, and the weighted pyramidal family, which in turn includes the other two families as special cases. We also analyze the properties of these families, as well as their relationships with other previously defined values.
|Date of creation:||Oct 2012|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://portal.uc3m.es/portal/page/portal/dpto_estadistica
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ju, Y. & Borm, P.E.M. & Ruys, P.H.M., 2004.
"The Consensus Value : A New Solution Concept for Cooperative Games,"
2004-50, Tilburg University, Center for Economic Research.
- Yuan Ju & Peter Borm & Pieter Ruys, 2007. "The consensus value: a new solution concept for cooperative games," Social Choice and Welfare, Springer, vol. 28(4), pages 685-703, June.
- Ju, Y. & Borm, P.E.M. & Ruys, P.H.M., 2007. "The consensus value : A new solution concept for cooperative games," Other publications TiSEM 6cd44a12-a909-47f8-8d85-e, Tilburg University, School of Economics and Management.
When requesting a correction, please mention this item's handle: RePEc:cte:wsrepe:ws122418. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.