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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://128.118.178.162/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://128.118.178.162

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  1. Roger B. Myerson, 1978. "Conference Structures and Fair Allocation Rules," Discussion Papers 363, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Sergiu Hart, 1983. "An Axiomatization of Harsanyi's Non-Transferable Utility Solution," Discussion Papers 573, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. Hart, Oliver & Moore, John, 1990. "Property Rights and the Nature of the Firm," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1119-58, December.
  4. Armando Gomes & Sergiu Hart & Andreu Mas-Colell, 1997. "Finite horizon bargaining and the consistent field," Economics Working Papers 241, Department of Economics and Business, Universitat Pompeu Fabra.
  5. Ehud Kalai & Dov Samet, 1983. "On Weighted Shapley Values," Discussion Papers 602, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. Sjostrom, Tomas, 1991. "Stahl's bargaining model," Economics Letters, Elsevier, vol. 36(2), pages 153-157, June.
  7. Sergiu Hart, 2005. "An axiomatization of the consistent non-transferable utility value," International Journal of Game Theory, Springer, vol. 33(3), pages 355-366, 09.
  8. Sergiu Hart & Andreu Mas-Colell, 1994. "Bargaining and value," Economics Working Papers 114, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 1995.
  9. Kalai, Ehud & Smorodinsky, Meir, 1975. "Other Solutions to Nash's Bargaining Problem," Econometrica, Econometric Society, vol. 43(3), pages 513-18, May.
  10. Winter, Eyal, 1994. "The Demand Commitment Bargaining and Snowballing Cooperation," Economic Theory, Springer, vol. 4(2), pages 255-73, March.
  11. Emilio Calvo & Iñaki Garci´a & José M. Zarzuelo, 2001. "Replication invariance on NTU games," International Journal of Game Theory, Springer, vol. 29(4), pages 473-486.
  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. Aumann, Robert J, 1985. "An Axiomatization of the Non-transferable Utility Value," Econometrica, Econometric Society, vol. 53(3), pages 599-612, May.
  14. repec:cup:cbooks:9780521027038 is not listed on IDEAS
  15. Perez-Castrillo, David & Wettstein, David, 2001. "Bidding for the Surplus : A Non-cooperative Approach to the Shapley Value," Journal of Economic Theory, Elsevier, vol. 100(2), pages 274-294, October.
  16. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  17. Maschler, M & Owen, G, 1989. "The Consistent Shapley Value for Hyperplane Games," International Journal of Game Theory, Springer, vol. 18(4), pages 389-407.
  18. Moulin, H., 1984. "Implementing the Kalai-Smorodinsky bargaining solution," Journal of Economic Theory, Elsevier, vol. 33(1), pages 32-45, June.
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