On a Formulation of Discrete, N-Person Non Cooperative Games.
The purpose of this paper is to discuss the properties of a new solution of the 2-person bargaining problem as formulated by Nash, the so-called Average Pay-off solution. This solution of a very simple form has a natural interpretation based on the center of gravity of the feasible set, and it is "more sensitive" to changes of feasible sets than any other standard bargaining solution. It satisfies the standard axioms: Pareto-Optimality, Symmetry, Scale Invariance, Continuity and Twisting. Moreover,...
We consider a class of uniformly ergodic nonzero-sum stochastic games with the expected average payoff criterion, a separable metric state space and compact metric action spaces. We assume that the payoff and transition probability functions are uniformly continuous. Our aim is to prove the existence of stationary ε-equilibria for that class of ergodic stochastic games. This theorem extends to a much wider class of stochastic games a result proven recently by Bielecki [2].
Bellman systems corresponding to stochastic differential games arising from a cost functional which models risk aspects are considered. Here it leads to diagonal elliptic systems without zero order term so that no simple -estimate is available.
We study values for cooperative TU-games which are convex combinations of the Shapley value and the solidarity value, introduced in our recent paper [1]. First, we axiomatize the convex combination of the two values in the case when the coefficients are given exogenously. Next, we give an axiomatic description of the whole family of such values.