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Scarcity, competition, and value

  • We suggest a value for finite coalitional games with transferable utility that are enriched by non-negative weights for the players. In contrast to other weighted values, players stand for types of agents and weights are intended to represent the population sizes of these types. Therefore, weights do not only affect individual payoffs but also the joint payoff. Two principles guide the behavior of this value. Scarcity: the generation of worth is restricted by the scarcest type. Competition: only scarce types are rewarded. We find that the types’ payoffs for this value coincide with the payoffs assigned by the Mertens value to their type populations in an associated infinite game.

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Document Type:Article
Author:André CasajusORCiD
Chairs and Professorships:Chair of Economics and Information Systems
Year of Completion:2017
In: International Journal of Game Theory, 46 (2017) 2, 295-310 DOI 10.1007/s00182-016-0536-8