Marginal contributions and externalities in the value
Geoffroy de Clippel and
Roberto Serrano
No 2007-04, Working Papers from Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales
Abstract:
Our concern is the extension of the theory of the Shapley value to games with externalities. Using the standard axiom systems behind the Shapley value for an arbitrary exogenous coalition structure leads to the identification of bounds on players’ payoffs around an \"externality-free\" value. In endogenizing the coalition structure, we analyze a two-stage process of coalition formation in whose second stage our axiomatic results are applied. We find reasons to explain inefficient coalition structures, and provide sufficient conditions for efficiency.
Keywords: externalities; marginal contributions; Shapley value; Pigouvian transfers; coalition formation (search for similar items in EconPapers)
JEL-codes: C7 D62 (search for similar items in EconPapers)
Date: 2007-02-28
New Economics Papers: this item is included in nep-gth and nep-net
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)
Published in Econometrica 76(6), November 2008: 1413-1436
Downloads: (external link)
http://repec.imdea.org/pdf/imdea-wp2007-04.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to repec.imdea.org:80 (A connection attempt failed because the connected party did not properly respond after a period of time, or established connection failed because connected host has failed to respond.)
Related works:
Journal Article: Marginal Contributions and Externalities in the Value (2008) 
Working Paper: Marginal Contributions and Externalities in the Value (2005) 
Working Paper: Marginal contributions and externalities in the value (2005) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:imd:wpaper:wp2007-04
Access Statistics for this paper
More papers in Working Papers from Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales Contact information at EDIRC.
Bibliographic data for series maintained by IMDEA RePEc Maintainer ( this e-mail address is bad, please contact ).