Random reduction consistency of the Weber set, the core and the anti-core

Yasushi Agatsuma, Yukihiko Funaki, Koji Yokote

    Research output: Contribution to journalArticle

    Abstract

    In this paper we introduce a new consistency condition and provide characterizations for several solution concepts in TU cooperative game theory. Our new consistency condition, which we call the random reduction consistency, requires the consistency of payoff vectors assigned by a solution concept when one of the players is removed with some probability. We show that the random reduction consistency and other standard properties characterize the Weber set, the convex hull of the marginal contribution vectors. Another salient feature of random reduction consistency is that, by slightly changing its definition, we can characterize the core and the anti-core in a parallel manner. Our result enables us to compare the difference between the three solution concepts from the viewpoint of consistency.

    Original languageEnglish
    Pages (from-to)1-17
    Number of pages17
    JournalMathematical Methods of Operations Research
    DOIs
    Publication statusAccepted/In press - 2017 Feb 13

    Fingerprint

    Solution Concepts
    Consistency Conditions
    Game theory
    Cooperative Game Theory
    TU Game
    Three Solutions
    Convex Hull
    Weber set
    Solution concepts

    Keywords

    • Anti-core
    • Consistency
    • Core
    • Game theory
    • TU game
    • Weber set

    ASJC Scopus subject areas

    • Engineering(all)

    Cite this

    Random reduction consistency of the Weber set, the core and the anti-core. / Agatsuma, Yasushi; Funaki, Yukihiko; Yokote, Koji.

    In: Mathematical Methods of Operations Research, 13.02.2017, p. 1-17.

    Research output: Contribution to journalArticle

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