Probabilistic values for bicooperative games
Jesús Mario Bilbao, J.R. Fernández, Nieves Jiménez, Jorge Jesús López
Abstract
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Jesús Mario Bilbao, J.R. Fernández, Nieves Jiménez, Jorge Jesús López
Abstract
Open-access reader
The present paper develops some general conditions under which we analize the bicooperative games introduced by Bilbao (2000). We define the probabilistic values for these games and observe in detail the axioms that characterize such values. Following the work of Weber (1988), these axioms are sequentially introduced observing how they have repercussions on the probabilistic value expression. Also, we introduce the compatible-order values and show the relationship between these values and the efficiency values such that their components are probabilistic values.
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The present paper develops some general conditions under which we analize the bicooperative games introduced by Bilbao (2000). We define the probabilistic values for these games and observe in detail the axioms that characterize such values. Following the work of Weber (1988), these axioms are sequentially introduced observing how they have repercussions on the probabilistic value expression. Also, we introduce the compatible-order values and show the relationship between these values and the efficiency values such that their components are probabilistic values.
Key concepts: Probabilistic logic, Axiom, Mathematical economics, Expression (computer science), Value (mathematics), Expected value, Order (exchange), Mathematics