The Egalitarian Efficient Extension of the Aumann–Drèze Value

Xun-Feng Hu (), Gen-Jiu Xu () and Deng-Feng Li ()
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Xun-Feng Hu: Guangzhou University
Gen-Jiu Xu: Northwestern Polytechnical University
Deng-Feng Li: Fuzhou University

Journal of Optimization Theory and Applications, 2019, vol. 181, issue 3, No 16, 1033-1052

Abstract: Abstract In this paper, we propose a new efficient value for transferable utility cooperative games with a coalition structure. It first assigns to every player his Aumann–Drèze value and then allocates the remainder of the worth of the grand coalition among players equally. As it is identical with the Aumann–Drèze value for coalitional games with a singleton coalition structure, we call it the egalitarian efficient extension of the Aumann–Drèze value. We provide three axiomatizations of it and compare it with other well-known efficient coalitional values, especially the Owen value and the two-step Shapley value.

Keywords: Transferable utility cooperative game; Coalition structure; Aumann–Drèze value; Owen value; Two-step Shapley value; 91A12 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (7)

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DOI: 10.1007/s10957-018-1440-0

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