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An experiment on the Nash program: A comparison of two strategic mechanisms implementing the Shapley value

Author

Listed:
  • Michela Chessa

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

  • Nobuyuki Hanaki

    (Osaka University [Osaka])

  • Aymeric Lardon

    (GATE Lyon Saint-Étienne - Groupe d'Analyse et de Théorie Economique Lyon - Saint-Etienne - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet - Saint-Étienne - EM - EMLyon Business School - CNRS - Centre National de la Recherche Scientifique)

  • Takashi Yamada

    (Yamaguchi University [Yamaguchi])

Abstract

We experimentally compare these two well-known mechanisms inducing the Shapley value as an ex ante equilibrium outcome of a noncooperative bargaining procedure: the demand-based Winter's demand commitment bargaining mechanism and the offer-based Hart and Mas-Colell procedure. Our results suggest that the offer-based Hart and Mas-Colell mechanism better induces players to cooperate and to agree on an efficient outcome, whereas the demand-based Winter mechanism better implements allocations that reflect players' effective power, provided that the grand coalition is formed.

Suggested Citation

  • Michela Chessa & Nobuyuki Hanaki & Aymeric Lardon & Takashi Yamada, 2023. "An experiment on the Nash program: A comparison of two strategic mechanisms implementing the Shapley value," Post-Print hal-04194465, HAL.
    • Handle: RePEc:hal:journl:hal-04194465
    DOI: 10.1016/j.geb.2023.05.010
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    Cited by:

    1. Navarro, Noemí & Veszteg, Róbert F., 2025. "On welfarism and scale invariance: What do bargainers bargain about?," Journal of Economic Behavior & Organization, Elsevier, vol. 237(C).
    2. Michela Chessa & Nobuyuki Hanaki & Aymeric Lardon & Takashi Yamada, 2023. "An Experiment on Demand Commitment Bargaining," Dynamic Games and Applications, Springer, vol. 13(2), pages 589-609, June.
    3. Chessa, Michela & Hanaki, Nobuyuki & Lardon, Aymeric & Yamada, Takashi, 2022. "The effect of choosing a proposer through a bidding procedure in implementing the Shapley value," Journal of Economic Psychology, Elsevier, vol. 93(C).
    4. Janjua, Shahmir & An-Vo, Duc-Anh & Reardon-Smith, Kathryn & Mushtaq, Shahbaz, 2024. "Resolving water security conflicts in agriculture by a cooperative Nash bargaining approach," Agricultural Water Management, Elsevier, vol. 306(C).

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    Keywords

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    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior

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