A value for games with coalition structures

摘要

This paper presents an axiomatization of a value for games with coalition structures which is an alternative to the Owen Value. The motor of this new axiomatization is a consistency axiom based on an associated game, which is not a reduced game. The new value of an n-player unanimity game is the compound average of the new values of all the (n-1)-player unanimity games. The new value of a unanimity game allocates to bigger coalitions a larger share of the total wealth. Note that the Owen value allocates to all the coalitions the same share independently of their size.Keywords Owen value - Coalition structure - Associated game - ConsistencyJEL C71