Sharing the surplus in games with externalities within and across issues

Abstract

We consider environments in which agents can cooperate on multiple issues and externalities are present both within and across issues. We propose a way to extend (Shapley) values that have been put forward to deal with externalities within issues to games where there are externalities within and across issues. We characterize our proposal through axioms that extend the Shapley axioms to our more general environment.

Published as: Sharing the Surplus in Games with Externalities Within and Across Issues in Economic Theory , Vol. 60, No. 2, 315--343, January, 2015