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

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    Game
    TU Game
    Single valued
    Axiomatic characterization
    Balanced games
    TU game
    Class

    Keywords

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

    ASJC Scopus subject areas

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

    Cite this

    Non-cooperative and axiomatic characterizations of the average lexicographic value. / Kongo, Takumi; Funaki, Yukihiko; Branzei, Rodica; Tijs, Stef.

    In: International Game Theory Review, Vol. 12, No. 4, 12.2010, p. 417-435.

    Research output: Contribution to journalArticle

    Kongo, Takumi ; Funaki, Yukihiko ; Branzei, Rodica ; Tijs, Stef. / Non-cooperative and axiomatic characterizations of the average lexicographic value. In: International Game Theory Review. 2010 ; Vol. 12, No. 4. pp. 417-435.
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