Potential and Consistency for Semivalues of Finite Cooperative TU Games

Abstract

**Please note that the full text is embargoed** ABSTRACT: A new axiomatic characterization of the semivalues of finite cooperative n-person games with transferable utilities is given, by using a potential function. The semivalues are proved to be the unique functionals on the space of such games, which are consistent relative to a Hart/Mas Colell type of reduced game and weighted standard for two person games. The potential is also used to prove the validity of a recursive definition of semivalues, as well as the fact that the semivalues are Shapley values of the so called Power Game.