Area	Decision Sciences
	Faculty	Frank Huettner
	Journal	European Journal of Operational Research
	Title	Balanced contributions, consistency, and value for games with externalities

Abstract

We consider fair and consistent extensions of the Shapley value for games with externalities. Based on the restriction identi ed by Casajus et al. (2024, Games Econ. Behavior 147, 88-146), we de ne balanced contributions, Sobolev s consistency, and Hart and Mas-Colell s consistency for games with externalities, and we show that these properties lead to characterizations of the generalization of the Shapley value introduced by Macho-Stadler et al. (2007, J. Econ. Theory 135, 339-356), that parallel important characterizations of the Shapley value.

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https://www.sciencedirect.com/science/article/pii/S0377221725008999

Keywords
Shapley value, partition function form, random partition, restriction operator