Gj. Otten et al., THE MC-VALUE FOR MONOTONIC NTU-GAMES, International journal of game theory, 27(1), 1998, pp. 37-47
Citations number
25
Categorie Soggetti
Social Sciences, Mathematical Methods",Economics,"Statistic & Probability","Mathematics, Miscellaneous","Mathematics, Miscellaneous","Statistic & Probability
The MC-value is introduced as a new single-valued solution concept for
monotonic NTU-games. The MC-value is based on marginal vectors, which
are extensions of the well-known marginal vectors for TU-games and hy
perplane games. As a result of the definition it follows that the MC-v
alue coincides with the Shapley value for TU-games and with the consis
tent Shapley value for hyperplane games. It is shown that on the class
of bargaining games the MC-value coincides with the Raiffa-Kalai-Smor
odinsky solution. Furthermore, two characterizations of the MC-value a
re provided on subclasses of NTU-games which need not be convex valued
. This allows for a comparison between the MC-value and the egalitaria
n solution introduced by Kalai and Samet (1985).