Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7352895 | Games and Economic Behavior | 2018 | 16 Pages |
Abstract
We propose the “average approach,” where the worth of a coalition is a weighted average of its worth for different partitions of the players' set, as a unifying method to extend values for characteristic function form games. Our method allows us to extend the equal division value, the equal surplus value, the consensus value, the λ-egalitarian Shapley value, and the family of least-square values. For each of the first three extensions, we also provide an axiomatic characterization of a particular value for partition function form games. And for each of the last two extensions, we find a family of values that satisfy the properties.
Keywords
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Social Sciences and Humanities
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Economics and Econometrics
Authors
Inés Macho-Stadler, David Pérez-Castrillo, David Wettstein,