1977•Unpublished venueRequires access

VALUES OF GAMES WITH A PRIORI UNIONS

Gu I Lli, Ermo Owen

Open publisher page 431 citations

Abstract

Let us suppose that, for sane reason, players 1 and 2 have a strong tendency to act together. (Perhaps they have fonned a union or signed sane agreerrent to this effect.) In that case, the natural outcane would seem to be a coalition between 1 and 2, with the profit of one unit to be divided arrong them sonehow. This division is not fixed, but, for purposes, we might present the (0.5, 0.5) division as a reasonable expectation (Le., this is not a guarantee but an expected value). Thus the vector y' (0.5, 0.5, 0) would seem a reasonable candidate for rrodified value of the game.

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What this paper is about

Let us suppose that, for sane reason, players 1 and 2 have a strong tendency to act together. (Perhaps they have fonned a union or signed sane agreerrent to this effect.) In that case, the natural outcane would seem to be a coalition between 1 and 2, with the profit of one unit to be divided arrong them sonehow. This division is not fixed, but, for purposes, we might present the (0.5, 0.5) division as a reasonable expectation (Le., this is not a guarantee but an expected value). Thus the vector y' (0.5, 0.5, 0) would seem a reasonable candidate for rrodified value of the game.

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Available abstract

Let us suppose that, for sane reason, players 1 and 2 have a strong tendency to act together. (Perhaps they have fonned a union or signed sane agreerrent to this effect.) In that case, the natural outcane would seem to be a coalition between 1 and 2, with the profit of one unit to be divided arrong them sonehow. This division is not fixed, but, for purposes, we might present the (0.5, 0.5) division as a reasonable expectation (Le., this is not a guarantee but an expected value). Thus the vector y' (0.5, 0.5, 0) would seem a reasonable candidate for rrodified value of the game.

Key concepts: Mathematical economics, Value (mathematics), Profit (economics), Mathematics, Economics, Microeconomics, Statistics

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