The consensus value: a new solution concept for cooperative games View Full Text


Ontology type: schema:ScholarlyArticle      Open Access: True


Article Info

DATE

2007-06

AUTHORS

Yuan Ju, Peter Borm, Pieter Ruys

ABSTRACT

To generalize the standard solution for 2-person TU games into n-person cases, this paper introduces a recursive two-sided negotiation process to establish cooperation between all players. This leads to a new solution concept for cooperative games: the consensus value. An explicit comparison with the Shapley value is provided, also at the axiomatic level. Moreover, a class of possible generalizations of the consensus value is introduced and axiomatized with the Shapley value at one end and the equal surplus solution at the other. Finally, we discuss a non-cooperative mechanism which implements the consensus value. More... »

PAGES

685-703

References to SciGraph publications

  • 1991-03. Coincidence of and collinearity between game theoretic solutions in OR SPECTRUM
  • 1980-09. Conference structures and fair allocation rules in INTERNATIONAL JOURNAL OF GAME THEORY
  • 1989-12. The consistent Shapley value for hyperplane games in INTERNATIONAL JOURNAL OF GAME THEORY
  • 2002-01. An Iterative Procedure for Evaluating Digraph Competitions in ANNALS OF OPERATIONS RESEARCH
  • 1975-09. On the uniqueness of the Shapley value in INTERNATIONAL JOURNAL OF GAME THEORY
  • Identifiers

    URI

    http://scigraph.springernature.com/pub.10.1007/s00355-006-0192-1

    DOI

    http://dx.doi.org/10.1007/s00355-006-0192-1

    DIMENSIONS

    https://app.dimensions.ai/details/publication/pub.1052262503


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