Abstract
Three values for non-transferable utility games — the Harsanyi NTU-value, the Shapley NTU-value, and the Maschler—Owen consistent NTU-value — are compared in a simple example.
Dedicated to Guillermo Owen on his sixty-fifth birthday. Research partially supported by a grant of the Israel Academy of Sciences and Humanities. The author thanks Robert J. Aumann and Andreu Mas-Colell for their comments.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Aumann, R.J. (1985), An axiomatization of the non-transferable utility value, Econometrica 53, 599–612.
Aumann, R.J. (1987), Game theory, in J. Eatwell, M. Milgate, and P. Newman (eds), The New Palgrave: A Dictionary of Economics, Vol. 2, London: Macmillan, 460–482.
De Clippel, G., Peters, H. and Zank, H. (2002), Axiomatizing the Harsanyi Solution, the Symmetric Egalitarian Solution, and the Consistent Shapley Solution for NTU-Games, mimeo.
Harsanyi, J.C. (1963), A simplified bargaining model for the n-person cooperative game, International Economic Review 4, 194–220.
Hart, S. (1985), An axiomatization of Harsanyi’s non-transferable utility solution, Econometrica 53, 1295–1313.
Hart, S. (1994), On prize games, in N. Megiddo (ed.), Essays in Game Theory, Berlin: Springer-Verlag, 111–121.
Hart, S. (2003), An Axiomatization of the Consistent Non-Transferable Utility Value, Center for Rationality DP-337, The Hebrew University of Jerusalem, mimeo.
Hart, S. and Mas-Colell, A. (1996), Bargaining and value, Econometrica 64, 357–380.
Maschler, M. and Owen, G. (1989), The consistent Shapley value for hyperplane games, International Journal of Game Theory 18, 389–407.
Maschler, M. and Owen, G. (1992), The consistent Shapley value for games without side payments, in R. Selten (ed.), Rational Interaction, New York: Springer-Verlag, 5–12.
McLean, R. (2002), Values of non-transferable utility games, in R.J. Aumann and S. Hart (eds), Handbook of Game Theory, with Economic Applications, Vol. 3, Amsterdam: Elsevier, 2077–2120.
Myerson, R.B. (1991), Game Theory, Cambridge MA: Harvard University Press.
Nash, J. (1950), The bargaining problem, Econometrica 18, 155–162.
Owen, G. (1972), A value for games without side payments, International Journal of Game Theory 1, 95–109.
Shapley, L.S. (1953), A value for n-person games, in H.W. Kuhn and A.W. Tucker (eds), Contributions to the Theory of Games II, Annals of Mathematics Studies 28, Princeton: Princeton University Press, 307–317.
Shapley, L.S. (1969), Utility comparison and the theory of games, in La Decision, Paris: Editions du CNRS, 251–263.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2004 Springer Science+Business Media New York
About this chapter
Cite this chapter
Hart, S. (2004). A Comparison of Non-Transferable Utility Values. In: Gambarelli, G. (eds) Essays in Cooperative Games. Theory and Decision Library, vol 36. Springer, Boston, MA. https://doi.org/10.1007/978-1-4020-2936-3_4
Download citation
DOI: https://doi.org/10.1007/978-1-4020-2936-3_4
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4419-5260-8
Online ISBN: 978-1-4020-2936-3
eBook Packages: Springer Book Archive