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, Volume 3, Issue 1, pp 35–46

On the axiomatization of the τ-value

  • E. Calvo
  • S. H. Tijs
  • F. Valenciano
  • J. M. Zarzuelo
Article

Summary

The τ-value is a solution concept for a subclass of games with transferable utility introduced and axiomatized by Tijs (1981, 1987). In this note an alternative characterization of the τ-value by means of five axioms is offered. Two of them are well-known: efficiency and translation equivalence; the other three relate the solution of a game with the minimal and maximal aspiration vectors involved in the definition of the τ-value.

Keywords

TU games compromise value τ-value axiomatization 

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References

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Copyright information

© Sociedad de Estadística e Investigación Operativa 1995

Authors and Affiliations

  • E. Calvo
    • 1
  • S. H. Tijs
    • 2
  • F. Valenciano
    • 3
  • J. M. Zarzuelo
    • 3
  1. 1.Departmento de Economía Aplicada IUniversidad del País VascoBilbaoSpain
  2. 2.Department of EconometricsTilburg UniversityTilburgThe Netherlands
  3. 3.Departamento de Economía Applicada IUniversidad del País VascoBilbaoSpain

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