Abstract
The initiating points of the current paper are the axiomatic characterizations, in terms of consistency, of the equal allocation of nonseparable cost value (by Moulin), the Shapley value (by Hart and Mas-Colell), and the prenucleolus (by Orshan). The basic axioms are the same, but three different reduced games can be used to distinguish these three solutions. The main purpose of the paper is to illustrate that besides the definitions of reduced games are different, the axiom converse consistency also plays an important role to distinguish these three solutions.
| Original language | English |
|---|---|
| Pages (from-to) | 260-278 |
| Number of pages | 19 |
| Journal | Games and Economic Behavior |
| Volume | 59 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - 2007 May 1 |
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All Science Journal Classification (ASJC) codes
- Economics and Econometrics
- Finance
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Reduced game and converse consistency. / Chang, Chih; Hu, Cheng-Cheng.
In: Games and Economic Behavior, Vol. 59, No. 2, 01.05.2007, p. 260-278.Research output: Contribution to journal › Article
TY - JOUR
T1 - Reduced game and converse consistency
AU - Chang, Chih
AU - Hu, Cheng-Cheng
PY - 2007/5/1
Y1 - 2007/5/1
N2 - The initiating points of the current paper are the axiomatic characterizations, in terms of consistency, of the equal allocation of nonseparable cost value (by Moulin), the Shapley value (by Hart and Mas-Colell), and the prenucleolus (by Orshan). The basic axioms are the same, but three different reduced games can be used to distinguish these three solutions. The main purpose of the paper is to illustrate that besides the definitions of reduced games are different, the axiom converse consistency also plays an important role to distinguish these three solutions.
AB - The initiating points of the current paper are the axiomatic characterizations, in terms of consistency, of the equal allocation of nonseparable cost value (by Moulin), the Shapley value (by Hart and Mas-Colell), and the prenucleolus (by Orshan). The basic axioms are the same, but three different reduced games can be used to distinguish these three solutions. The main purpose of the paper is to illustrate that besides the definitions of reduced games are different, the axiom converse consistency also plays an important role to distinguish these three solutions.
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UR - http://www.scopus.com/inward/citedby.url?scp=34248594936&partnerID=8YFLogxK
U2 - 10.1016/j.geb.2006.08.002
DO - 10.1016/j.geb.2006.08.002
M3 - Article
VL - 59
SP - 260
EP - 278
JO - Games and Economic Behavior
JF - Games and Economic Behavior
SN - 0899-8256
IS - 2
ER -