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Single NTU-value solutions

  • Emililo Calvo

    (Dep. of Economic Analysis. University of Valencia)

We propose a variation of the Hart and Mas-Colell non-cooperative bargaining model for n-person games in coalitional form. This strategic game implements, in the limit, a new NTU-value for the class of monotonic games. This value coincides with the Maschler and Owen value for hyperplane games, and with the Shapley value for TU games. The main characteristic of this proposal is that always select a unique payoff allocation. This value can also be considered as an extension of the Nash bargaining solution. Variations of this model yield extensions of the Discrete Raiffa solution, and the Kalai-Smorodinsky solution.

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File URL: http://econwpa.repec.org/eps/game/papers/0405/0405004.pdf
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Paper provided by EconWPA in its series Game Theory and Information with number 0405004.

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Length: 31 pages
Date of creation: 05 May 2004
Date of revision: 10 Jun 2004
Handle: RePEc:wpa:wuwpga:0405004
Note: Type of Document - pdf; pages: 31
Contact details of provider: Web page: http://econwpa.repec.org

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  1. Hart, Sergiu, 1985. "An Axiomatization of Harsanyi's Nontransferable Utility Solution," Econometrica, Econometric Society, vol. 53(6), pages 1295-1313, November.
  2. Hart, Oliver D. & Moore, John, 1990. "Property Rights and the Nature of the Firm," Scholarly Articles 3448675, Harvard University Department of Economics.
  3. Aumann, Robert J, 1985. "An Axiomatization of the Non-transferable Utility Value," Econometrica, Econometric Society, vol. 53(3), pages 599-612, May.
  4. Maschler, M & Owen, G, 1989. "The Consistent Shapley Value for Hyperplane Games," International Journal of Game Theory, Springer;Game Theory Society, vol. 18(4), pages 389-407.
  5. Sergiu Hart, 2003. "An Axiomatization of the Consistent Non-Transferable Utility Value," Discussion Paper Series dp337, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
  6. Winter, Eyal, 1994. "The Demand Commitment Bargaining and Snowballing Cooperation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(2), pages 255-73, March.
  7. Roger B. Myerson, 1978. "Conference Structures and Fair Allocation Rules," Discussion Papers 363, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. Hart, Sergiu & Mas-Colell, Andreu, 1996. "Bargaining and Value," Econometrica, Econometric Society, vol. 64(2), pages 357-80, March.
  9. Thomson,William & Lensberg,Terje, 2006. "Axiomatic Theory of Bargaining with a Variable Number of Agents," Cambridge Books, Cambridge University Press, number 9780521027038, june. pag.
  10. Armando Gomes & Sergiu Hart & Andreu Mas-Colell, 1997. "Finite Horizon Bargaining and the Consistent Field," Game Theory and Information 9705003, EconWPA.
  11. Ehud Kalai & Dov Samet, 1983. "On Weighted Shapley Values," Discussion Papers 602, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  12. Roth, Alvin E., 1977. "Independence of irrelevant alternatives, and solutions to Nash's bargaining problem," Journal of Economic Theory, Elsevier, vol. 16(2), pages 247-251, December.
  13. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
  14. David Pérez-Castrillo & David Wettstein, . "Bidding For The Surplus: A Non-Cooperative Approach To The Shapley Value," UFAE and IAE Working Papers 461.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  15. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  16. Emilio Calvo & Iñaki Garci´a & José M. Zarzuelo, 2001. "Replication invariance on NTU games," International Journal of Game Theory, Springer;Game Theory Society, vol. 29(4), pages 473-486.
  17. Moulin, H., 1984. "Implementing the Kalai-Smorodinsky bargaining solution," Journal of Economic Theory, Elsevier, vol. 33(1), pages 32-45, June.
  18. Sjostrom, Tomas, 1991. "Stahl's bargaining model," Economics Letters, Elsevier, vol. 36(2), pages 153-157, June.
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