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A reformulation of Aumann-Shapley random order values of non- atomic games using invariant measures

Author

Listed:
  • Lakshmi K. Raut

    (University of Hawaii-Manoa)

Abstract

In this paper the random order approach to values of non-atomic games is reformulated by generating random orders from a fixed subgroup of automorphisms, $\Theta$ that admits an invariant probability measurable group structure. The resulting $\Theta$-symmetric random order value operator is unique and satisfies all the axioms of a $\Theta$-symmetric axiomatic value operator. It is shown that for the uncountably large invariant probability measurable group $\left(\breve\Theta,\breve{\cal B},\breve\Gamma\right)$ of Lebesgue measure preserving automorphisms constructed in Raut [1996], $\breve\Theta$-symmetric random order value exists for most games in BV and it coincides with the fully symmetric Aumann-Shapley axiomatic value on pNA. Thus by restricting the set of admissible orders suitably the paper provides a possibility result to the Aumann-Shapley Impossibility Principle for the random order approach to values of non-atomic games.

Suggested Citation

  • Lakshmi K. Raut, 1996. "A reformulation of Aumann-Shapley random order values of non- atomic games using invariant measures," Game Theory and Information 9603001, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpga:9603001
    Note: Type of Document - Postscript; prepared on IBM PC - PC-TEX; to print on PostScript; pages: 33 ; figures: included. We never published this piece and now we would like to reduce our mailing and xerox cost by posting it.
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    Cited by:

    1. Lakshmi K. Raut, 2003. "A Non-standard Analysis of Aumann-Shapley Random Order Values of Non-atomic Games," Game Theory and Information 0307003, University Library of Munich, Germany.

    More about this item

    Keywords

    Non-atomic games; invariant measure; Shaply value; Random orders;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C00 - Mathematical and Quantitative Methods - - General - - - General

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