Dividends and weighted values in games with externalities
- 144 Downloads
In this paper, we provide further support for the family of average values for games with externalities defined in Macho-Stadler et al. (J Econ Theory 135:339–356, 2007). This is a large family of values that includes several recent proposals. We show that they can be constructed through the sharing of appropriately defined dividends. Furthermore, we show the flexibility of this approach by using it to generate non-symmetric values.
KeywordsGames with externalities Sharing rules Dividends
JEL ClassificationD62 C71
Unable to display preview. Download preview PDF.
- Dutta B, Ehlers L, Kar A (2008) Externalities, potential, value and consistency. WP Univ MontréalGoogle Scholar
- Feldman BE (1996) Bargaining, coalition formation, and value. Ph.D. thesis, State University of New York at Stony BrookGoogle Scholar
- Harsanyi JC (1959) A bargaining model for the cooperative n-person game. In: Tucker AW, Luce RD (eds) Contributions to the theory of games, vol IV. Princeton University Press, Princeton, pp 325–355Google Scholar
- Macho-Stadler I, Pérez-Castrillo D, Wettstein D (2008) Dividends and weighted values in games with externalities. Barcelona GSE Research Network WP 366Google Scholar
- Maschler M (1982) The worth of a cooperative enterprise to each member. In: Deistler M, Furst F, Schwodiaur G (eds) Games, economic dynamics and time series analysis. Physica-Verlag, Vienna-WurzburgGoogle Scholar
- Shapley LS (1953a) A value for n-person games. In: Kuhn HW, Tucker AW (eds) Contributions to the theory of games, vol II. Princeton University Press, Princeton, pp 307–317Google Scholar
- Shapley LS (1953b) Additive and non-additive set functions. Ph.D. thesis, Princeton University, PrincetonGoogle Scholar