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A Minimal Test for Convex Games and the Shapley Value

By Mark Voorneveld and Sofia Grahn

Abstract

A set of necessary and sufficient conditions for convexity of a transferable utility game in terms of its decomposition into unanimity games is shown to be minimal: none of the conditions is redundant. The result is used to provide an axiomatization of the Shapley value on the set of convex games

Topics: convex game, unanimity game, Shapley value, axiomatization. JEL Classification, C71
Year: 2001
OAI identifier: oai:CiteSeerX.psu:10.1.1.197.3155
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