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AN AXIOM SYSTEM FOR A VALUE FOR GAMES IN PARTITION FUNCTION FORM

M. J. Albizuri (elpalirm@bs.ehu.es), J. Arin and J. Rubio
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M. J. Albizuri: Department of Applied Economy IV, Basque Country University, Bilbao, Spain
J. Arin: Department of Foundations of Economic Analysis, Basque Country University, Bilbao, Spain
J. Rubio: Department of Statistics and Econometrics, Basque Country University, Bilbao, Spain

International Game Theory Review (IGTR), 2005, vol. 07, issue 01, 63-72

Abstract: Lucas and Trall (1963) defined the games in partition function form as a generalization of the cooperative games with transferable utility. In our work we propose by means of an axiomatic characterization a solution for such games in partition function form. This solution will be a generalization of the Shapley value (1953).

Keywords: Games in partition function form; Shapley value; JEL Classification: C71 (search for similar items in EconPapers)
JEL-codes: B4 C0 C6 C7 D5 D7 M2 (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (49)

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DOI: 10.1142/S0219198905000405

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