Article ID Journal Published Year Pages File Type
7352906 Games and Economic Behavior 2018 27 Pages PDF
Abstract
We characterize the Shapley value using (together with standard conditions of efficiency and equal gains in two-player games) a condition of 'undominated merge-externalities'. Similar to the well-known 'balanced contributions' characterization, our characterization corresponds intuitively to 'threat points' present in bargaining. It derives from the observation that all semivalues satisfy 'balanced merge-externalities'. Our characterization is applicable to useful, narrow sub-classes of games (including monotonic simple games), and also extends naturally to encompass games in partition function form.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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