The First Steps with Alexia, the Average Lexicographic Value
Stef H. Tijs
Tilburg University - Center For Economic Research; Tilburg University - Department of Econometrics & Operations Research; Università degli Studi di Genova - Dipartimento di Matematica
CentER Discussion Paper No. 2005-123
The new value AL for balanced games is discussed, which is based on averaging of lexicographic maxima of the core. Exactifications of games play a special role to find interesting relations of AL with other solution concepts for various classes of games as convex games, big boss games, simplex games etc. Also exactifications are helpful to associate fully defined games to partially defined games and to develop solution concepts there.
Number of Pages in PDF File: 9
Keywords: cooperative games, average lexicographic value, exact games, partially defined games
JEL Classification: C71working papers series
Date posted: December 19, 2005
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