@techreport{ff51992e66834596a61393ccaaee1062,
title = "The Consensus Value: A New Solution Concept for Cooperative Games",
abstract = "By generalizing the standard solution for 2-person games into n-person cases, this paper develops a new solution concept for cooperative games: the consensus value.We characterize the consensus value as the unique function that satisfies efficiency, symmetry, the quasi dummy property and additivity.By means of the transfer property, a second characterization is provided.By defining the stand-alone reduced game, a recursive formula for the value is established.We also show that this value is the average of the Shapley value and the equal surplus solution.Furthermore, we discuss a possible generalization.",
keywords = "cooperative games, game theory",
author = "Y. Ju and P.E.M. Borm and P.H.M. Ruys",
note = "Subsequently published in Social Choice and Welfare, 2007 Pagination: 17",
year = "2004",
language = "English",
volume = "2004-50",
series = "CentER Discussion Paper",
publisher = "Microeconomics",
type = "WorkingPaper",
institution = "Microeconomics",
}