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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Abstract

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.

Item Type: Journal Article
Journal or Publication Title: Mathematical Social Sciences
Uncontrolled Keywords: /dk/atira/pure/subjectarea/asjc/1800/1804
Subjects:
Departments: Lancaster University Management School > Economics
ID Code: 126879
Deposited By: ep_importer_pure
Deposited On: 14 Aug 2018 10:58
Refereed?: Yes
Published?: Published
Last Modified: 03 Dec 2019 05:13
URI: https://eprints.lancs.ac.uk/id/eprint/126879

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