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Values of vector measure market games and their representations

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  • Omer Edhan

    (The University of Manchester)

Abstract

We offer a representation result for values of vector measure market games, proving that the value of a game is an “average of marginals”. As a direct result we obtain that the Mertens value is the unique continuous value on the space of vector measure market games, and the unique value on the space of Lipschitz vector measure market games.

Suggested Citation

  • Omer Edhan, 2016. "Values of vector measure market games and their representations," International Journal of Game Theory, Springer;Game Theory Society, vol. 45(1), pages 411-433, March.
    • Handle: RePEc:spr:jogath:v:45:y:2016:i:1:d:10.1007_s00182-015-0516-4
    DOI: 10.1007/s00182-015-0516-4
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    References listed on IDEAS

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    1. Mertens, J.-F., 1987. "Non differentiable T.U. markets. The value," LIDAM Discussion Papers CORE 1987035, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. Mertens, J F, 1988. "The Shapley Value in the Non Differentiable Case," International Journal of Game Theory, Springer;Game Theory Society, vol. 17(1), pages 1-65.
    3. Omer Edhan, 2015. "The conic property for vector measure market games," International Journal of Game Theory, Springer;Game Theory Society, vol. 44(2), pages 377-386, May.
    4. Haimanko, Ori, 2002. "Payoffs in Nondifferentiable Perfectly Competitive TU Economies," Journal of Economic Theory, Elsevier, vol. 106(1), pages 17-39, September.
    5. Edhan, Omer, 2015. "Payoffs in exact TU economies," Journal of Economic Theory, Elsevier, vol. 155(C), pages 152-184.
    6. Dubey, Pradeep & Neyman, Abraham, 1984. "Payoffs in Nonatomic Economies: An Axiomatic Approach," Econometrica, Econometric Society, vol. 52(5), pages 1129-1150, September.
    7. Sergiu Hart, 1980. "Measure-Based Values of Market Games," Mathematics of Operations Research, INFORMS, vol. 5(2), pages 197-228, May.
    8. Charalambos D. Aliprantis & Kim C. Border, 2006. "Infinite Dimensional Analysis," Springer Books, Springer, edition 0, number 978-3-540-29587-7, December.
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