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Fair distribution of surplus and efficient extensions of the Myerson value

Xun-Feng Hu, Deng-Feng Li and Gen-Jiu Xu

Economics Letters, 2018, vol. 165, issue C, 1-5

Abstract: In this paper, we propose two axioms based on the idea of fair distribution of surplus. We prove that these two axioms uniquely determine an efficient extension of the Myerson value. Moreover, we also show that another efficient extension of the Myerson value, the efficient egalitarian Myerson value, can be characterized with one of our axioms and the fair distribution of surplus axiom.

Keywords: Transferable utility cooperative game; Communication graph; Fair distribution of surplus; Myerson value; Efficient extension (search for similar items in EconPapers)
JEL-codes: C71 D60 (search for similar items in EconPapers)
Date: 2018
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