The dual Lovász extension operator and the Shapley extension operator for TU games
- An extension operator assigns to any TU game its extension, a mapping that assigns a worth to any non-negative resource vector for the players. Algaba et al. (2004) advocate the Lovász extension (Lovász, 1983) as a natural extension operator. This operator is determined by the minimum operator representing one particular CES (constant elasticity of substitution) technology. We explore alternative extension operators, the dual Lovász extension and the Shapley extension, that are based on the only two alternative CES technologies that induce an economically sound behavior of extensions in some sense, the maximum operator and the average operator.
Document Type: | Article |
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Language: | English |
Author: | André Casajus, Michael Kramm |
Chairs and Professorships: | Chair of Economics and Information Systems |
DOI: | https://doi.org/10.1016/j.dam.2021.02.011 |
Parent Title (English): | Discrete applied mathematics |
ISSN: | 0166-218X |
Issue: | 294 (15 May 2021) |
Year of Completion: | 2021 |
First Page: | 224 |
Last Page: | 232 |
Tag: | CES production function; Lovász extension; TU game |
Content Focus: | Academic Audience |
Peer Reviewed: | Yes |
Rankings: | AJG Ranking / 2 |
VHB Ranking / A | |
SJR Ranking / Q2 | |
Licence (German): | ![]() |