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On Proportional Excess for NTU Games


  • Sergei Pechersky


An axiomatic approach is developed to define the 'proportional excess' on the space of positively generated NTU games. This excess generalizes to NTU games the proportional TU excess v(S)/x(S). Five axioms are proposed, and it is shown that the proportional excess, which possess Kalai's properties except the boundary condition (it equals 1, rather than 0), is the unique excess function satisfying the axioms. The properties of proportional excess and related solutions are studied. In particular, for the proportional (pre)nucleolus a geometric characterization, which modifies the Maschler-Peleg-Shapley geometric characterization of the standard TU nucleolus, is given.

Suggested Citation

  • Sergei Pechersky, 2001. "On Proportional Excess for NTU Games," EUSP Department of Economics Working Paper Series Ec-02/01, European University at St. Petersburg, Department of Economics, revised 30 Oct 2001.
  • Handle: RePEc:eus:wpaper:ec0201

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    References listed on IDEAS

    1. Aitken, Michael & Cumming, Douglas & Zhan, Feng, 2015. "High frequency trading and end-of-day price dislocation," Journal of Banking & Finance, Elsevier, vol. 59(C), pages 330-349.
    2. Michael R. King & Carol Osler & Dagfinn Rime, 2011. "Foreign exchange market structure, players and evolution," Working Paper 2011/10, Norges Bank.
    3. Michael Kearns & Alex Kulesza & Yuriy Nevmyvaka, 2010. "Empirical Limitations on High Frequency Trading Profitability," Papers 1007.2593,, revised Sep 2010.
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    More about this item


    cooperative NTU games; excess function; nucleolus; prenucleolus; (Minkowski) gauge function;

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games


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