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A Simple Bargaining Procedure for the Myerson Value

Author

Listed:
  • Noemí Navarro

    (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique, UR - Université de Rennes)

  • Andres Perea

Abstract

We consider situations where the cooperation and negotiation possibilities between pairs of agents are given by an undirected graph. Every connected component of agents has a value, which is the total surplus the agents can generate by working together. We present a simple, sequential, bilateral bargaining procedure, in which at every stage the two agents in a link, (i,j) bargain about their share from cooperation in the connected component they are part of. We show that this procedure yields the Myerson value (Myerson, 1997) if the marginal value of any link in a connected component is increasing in the number of links in that connected component.

Suggested Citation

  • Noemí Navarro & Andres Perea, 2013. "A Simple Bargaining Procedure for the Myerson Value," Post-Print hal-05113100, HAL.
    • Handle: RePEc:hal:journl:hal-05113100
    DOI: 10.1515/bejte-2012-0006
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    2. Fioriti, Davide & Frangioni, Antonio & Poli, Davide, 2021. "Optimal sizing of energy communities with fair revenue sharing and exit clauses: Value, role and business model of aggregators and users," Applied Energy, Elsevier, vol. 299(C).
    3. Attila Ambrus & Arun G. Chandrasekhar & Matt Elliott, 2014. "Social Investments, Informal Risk Sharing, and Inequality," NBER Working Papers 20669, National Bureau of Economic Research, Inc.
    4. Catherine C. Fontenay & Joshua S. Gans, 2014. "Bilateral Bargaining with Externalities," Journal of Industrial Economics, Wiley Blackwell, vol. 62(4), pages 756-788, December.
    5. Béal, Sylvain & Ferrières, Sylvain & Rémila, Eric & Solal, Philippe, 2018. "Axiomatization of an allocation rule for ordered tree TU-games," Mathematical Social Sciences, Elsevier, vol. 93(C), pages 132-140.
    6. Attila Ambrus & Matt Elliott, 2021. "Investments in social ties, risk sharing, and inequality [“Collaboration Networks, Structural Holes, and Innovation: A Longitudinal Study”]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(4), pages 1624-1664.
    7. Matthew Elliott & Arun Chandrasekhar & Attila Ambrus, 2015. "Social Investments, Informal Risk Sharing, and Inequality," 2015 Meeting Papers 189, Society for Economic Dynamics.
    8. Philippe Solal & Sylvain Béal & Sylvain Ferrières & Eric Rémila, 2017. "Axiomatic and bargaining foundation of an allocation rule for ordered tree TU-games," Post-Print halshs-01644811, HAL.
    9. Xiaowei Yu & Keith Waehrer, 2024. "Recursive Nash-in-Nash bargaining solution," Economics Bulletin, AccessEcon, vol. 44(1), pages 11-24.

    More about this item

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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