The principle of balanced contributions and hierarchies of cooperation

Calvo, E. and Lasaga, J.J. and Winter, E. (1996) The principle of balanced contributions and hierarchies of cooperation. Mathematical Social Sciences, 31 (3). pp. 171-182. ISSN 0165-4896

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The principle of balanced contributions has appeared repeatedly in the literature on the Shapley value. This principle is akin to the reciprocity properties shared by almost all cooperative solution concepts. We provide a new axiomatization for the level structure value. This axiomatization has the advantage that it can be applied to many important subdomains of TU games. We use the Hart-Mas-Colell potential function as a tool to prove our main result, and establish another interesting characterization for the value as a by-product.

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Journal Article
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Mathematical Social Sciences
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14 Aug 2018 10:58
Last Modified:
22 Nov 2022 06:12