Leximals, the Lexicore and the Average Lexicographic Value

Yukihiko Funaki, Stef H. Tijs, Rodica Branzei
2007 Social Science Research Network  
The lexicographic vectors of a balanced game, called here leximals, are used to define a new solution concept, the lexicore, on the cone of balanced games. Properties of the lexicore and its relation with the core on some classes of games are studied. It is shown that on cones of balanced games where the core is additive, the leximals, the lexicore and the Average Lexicographic (AL-)value are additive, too. Further, it turns out that the leximals satisfy a consistency property with respect to a
more » ... y with respect to a reduced gameà la Davis and Maschler, which implies an average consistency property of the AL-value. Explicit formulas for the AL-value on the class of k-convex games and on the class of balanced almost convex games are provided. JEL classification codes: C71.
doi:10.2139/ssrn.1068626 fatcat:dqz7vrqw5fajrfnck7xquvsmku