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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.

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Document Type:Article
Author:André CasajusORCiD, Michael KrammORCiD
Chairs and Professorships:Chair of Economics and Information Systems
Parent Title (English):Discrete applied mathematics
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):License LogoUrheberrechtlich geschützt