The MC-value for monotonic NTU-games

Bezalel Peleg, Stef Tijs, Peter Borm and Gert-Jan Otten
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Stef Tijs: Department of Econometrics and CentER for Economic Research, Tilburg University, P.O. Box 90153, 5000 LE Tilburg, the Netherlands
Gert-Jan Otten: Department of Econometrics and CentER for Economic Research, Tilburg University, P.O. Box 90153, 5000 LE Tilburg, the Netherlands

International Journal of Game Theory, 1998, vol. 27, issue 1, 37-47

Abstract: The MC-value is introduced as a new single-valued solution concept for monotonic NTU-games. The MC-value is based on marginal vectors, which are extensions of the well-known marginal vectors for TU-games and hyperplane games. As a result of the definition it follows that the MC-value coincides with the Shapley value for TU-games and with the consistent Shapley value for hyperplane games. It is shown that on the class of bargaining games the MC-value coincides with the Raiffa-Kalai-Smorodinsky solution. Furthermore, two characterizations of the MC-value are provided on subclasses of NTU-games which need not be convex valued. This allows for a comparison between the MC-value and the egalitarian solution introduced by Kalai and Samet (1985).

Keywords: NTU-games; ·; marginal; vectors; ·; MC-value (search for similar items in EconPapers)
Date: 1998-05-19
Note: Received April 1994/Final version May 1997
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