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The value in games with restricted cooperation

Author

Listed:
  • Emilio Calvo

    (Universidad de Valencia. ERI-CES)

  • Esther Gutiérrez-López

    (Departamento de Economía Aplicada IV. Universidad del País Vasco U.P.V./E.H.U.)

Abstract

We consider cooperative games in which the cooperation among players is restricted by a set system, which outlines the set of feasible coalitions that actually can be formed by players in the game. In our setting, the structure of this set system is completely free, and the only restriction is that the empty set belongs to it. An extension of the Shapley value is provided as the sum of the dividends that players obtain in the game. In this general setting, we offer two axiomatic characterizations for the value: one by means of component efficiency and fairness, and the other one with efficiency and balanced contributions.

Suggested Citation

  • Emilio Calvo & Esther Gutiérrez-López, 2015. "The value in games with restricted cooperation," Discussion Papers in Economic Behaviour 0115, University of Valencia, ERI-CES.
    • Handle: RePEc:dbe:wpaper:0115
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    References listed on IDEAS

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    2. Zhengxing Zou & Qiang Zhang, 2018. "Harsanyi power solution for games with restricted cooperation," Journal of Combinatorial Optimization, Springer, vol. 35(1), pages 26-47, January.

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    More about this item

    Keywords

    TU-games; Restricted cooperation; Shapley value.;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games

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