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Cohesive efficiency in TU-games: Two extensions of the Shapley value

Author

Listed:
  • Sylvain Béal

    (Université de Bourgogne Franche-Comté, CRESE)

  • André Casajus

    (HHL Leipzig Graduate School of Management, Dr. Hops Craft Beer Bar, Leipzig, Germany)

  • Eric Rémila

    (Université de Saint-Etienne, CNRS UMR 5824 GATE Lyon Saint-Etienne, France)

  • Philippe Solal

    (Université de Saint-Etienne, CNRS UMR 5824 GATE Lyon Saint-Etienne, France)

Abstract

We relax the assumption that the grand coalition must form by imposing the axiom of Cohesive efficiency: the total payoffs that the players can share is equal to the maximal total worth generated by a coalition structure. We determine how the three main axiomatic characterizations of the Shapley value are affected when the classical axiom of Efficiency is replaced by Cohesive efficiency. We introduce and characterize two variants of the Shapley value that are compatible with Cohesive efficiency. We show that our approach is not limited to variants of the Shapley value.

Suggested Citation

  • Sylvain Béal & André Casajus & Eric Rémila & Philippe Solal, 2019. "Cohesive efficiency in TU-games: Two extensions of the Shapley value," Working Papers 2019-03, CRESE.
    • Handle: RePEc:crb:wpaper:2019-03
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    References listed on IDEAS

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