On an extension of the concept of TU-games and their values

On an extension of the concept of TU-games and their values

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Article ID: iaor20173389
Volume: 86
Issue: 1
Start Page Number: 149
End Page Number: 170
Publication Date: Aug 2017
Journal: Mathematical Methods of Operations Research
Authors:
Keywords: simulation
Abstract:

We propose a new more general approach to TU‐games and their efficient values, significantly different from the classical one. It leads to extended TU‐games described by a triplet ( N , v , Ω ) equ1 , where (N, v) is a classical TU‐game on a finite grand coalition N, and Ω R equ2 is a game worth to be shared between the players in N. Some counterparts of the Shapley value, the equal division value, the egalitarian Shapley value and the least square prenucleolus are defined and axiomatized on the set of all extended TU‐games. As simple corollaries of the obtained results, we additionally get some new axiomatizations of the Shapley value and the egalitarian Shapley value. Also the problem of independence of axioms is widely discussed.

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