The Market Value of a Game

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/1189 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/1189 http://eprints.org/relation/isCoversheetVersionOf https://pure.iiasa.ac.at/id/document/1189 archive 351 disk0/00/00/11/65 2016-01-15 01:46:38 2021-08-27 17:09:29 2016-01-15 01:46:38 monograph show 2 Young H.P. AL1397 The Market Value of a Game pub iis_met prog_sds A correspondence is observed between a class of n-person cooperative games and production functions with fixed, discrete factor inputs. This correspondence motivates a simple way of valuing the players (or factors): the players, or factor representatives, set prices on themselves in the face of a market of buyers. A noncooperative price-setting game results for which equilibrium prices always exist. Interpreted as a cooperative game it always has a core, which reduces to the core of the original game if the latter is nonempty. This concept was originally applied to the problem of determining the relative value of the players in a voting game when a market exists for their votes. 1979-03 published WP-79-018 WP-79-018 2539 public working_paper IIASA, Laxenburg, Austria 34 FALSE info:eu-repo/semantics/book