Linear efficient and symmetric values for TU-games: sharing the joint gain of cooperation
Two well-known single valued solutions for TU-games are the Shapley value and Solidarity value, which verify three properties: Linearity, Symmetry and Efficiency, and the null player axiom. On the other hand, the interpretation of the two values is usually related on the marginal contribution of a player that joins a coalition. The paper generalizes the approach. First, the marginal contribution concept is extended to any valued solution that satisfies the three properties. Second, the null player axiom is also generalized and it is shown that any single valued solution satisfying the three properties is uniquely characterized by a null player axiom. In particular, the paper provides new interpretations, in the sense of marginal contribution, for other well-known single values such as Egalitarian value and Consensus value and also offers the opportunity for recasting in extensive form some well-established results.
|Date of creation:||2010|
|Date of revision:||2010|
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- 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.
- 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., 2004. "The Consensus Value : A New Solution Concept for Cooperative Games," Discussion Paper 2004-50, Tilburg University, Center for Economic Research.
- Célestin Chameni Nembua & Nicolas Gabriel Andjiga, 2008. "Linear, efficient and symmetric values for TU-games," Economics Bulletin, AccessEcon, vol. 3(71), pages 1-10.
- repec:ebl:ecbull:v:3:y:2008:i:1:p:1-9 is not listed on IDEAS
- Francisco Sanchez-Sanchez & Ruben Juarez & Luis Hernandez-Lamoneda, 2008. "Solutions without dummy axiom for TU cooperative games," Economics Bulletin, AccessEcon, vol. 3(1), pages 1-9.
- van den Brink, Rene, 2007. "Null or nullifying players: The difference between the Shapley value and equal division solutions," Journal of Economic Theory, Elsevier, vol. 136(1), pages 767-775, September.
- René Brink & Yukihiko Funaki, 2009. "Axiomatizations of a Class of Equal Surplus Sharing Solutions for TU-Games," Theory and Decision, Springer, vol. 67(3), pages 303-340, September.
- Nowak, Andrzej S & Radzik, Tadeusz, 1994. "A Solidarity Value for n-Person Transferable Utility Games," International Journal of Game Theory, Springer, vol. 23(1), pages 43-48.
- repec:ebl:ecbull:v:3:y:2008:i:71:p:1-10 is not listed on IDEAS
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