Associated Consistency Characterization of Two Linear Values for Tu Games by Matrix Approach
Tinbergen Institute Discussion Paper 12-105/II
22 Pages Posted: 9 Oct 2012
Date Written: October 8, 2012
Abstract
Hamiache (2001) assigns to every TU game a so-called associated game and then shows that the Shapley value is characterized as the unique solution for TU games satisfying the inessential game property, continuity and associated consistency. The latter notion means that for every game the Shapley value of the associated game is equal to the Shapley value of the game itself. In this paper we show that also the EANS-value as well as the CIS-value are characterized by these three properties for appropriately modified notions of the associated game. This shows that these three values only differ with respect to the associated game. The characterization is obtained by applying the matrix approach as the pivotal technique for characterizing linear values of TU games in terms of associated consistency.
Keywords: TU games, Shapley value, EANS-value, CIS-value, associated consistency, matrix approach
JEL Classification: C71
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