Non-cooperative and axiomatic characterizations of the average lexicographic value

Takumi Kongo, Yukihiko Funaki, Rodica Branzei, Stef Tijs

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

We give a non-cooperative and an axiomatic characterization of the Average Lexicographic value (AL-value) on the class of balanced games. The AL-value is a single-valued solution for balanced TU-games. It is defined as the average of lexicographic maximum of the core of the game with respect to all orders on the player set, and it can be seen as a core selection based on the priority orders on the players. In both of our characterizations of the AL-value, a consistency property which we call average consistency plays an important role, and the property is obtained by the consistency property à la Davis and Maschler of the lexicographic vectors with respect to any order of players.

Original languageEnglish
Pages (from-to)417-435
Number of pages19
JournalInternational Game Theory Review
Volume12
Issue number4
DOIs
Publication statusPublished - 2010 Dec 1

Keywords

  • Cooperative games
  • average consistency
  • average lexicographic value
  • characterization

ASJC Scopus subject areas

  • Business and International Management
  • Computer Science(all)
  • Statistics, Probability and Uncertainty

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