Values and cores of fuzzy games with infinitely many players

Research output: Contribution to journalArticlepeer-review


The problem of the existence of values (FA-valued, linear, positive, symmetric and efficient operators) on symmetric spaces of "fuzzy games" (that is, ideal set functions of bounded variation) arises naturally from [8], [18], [23] and [2], [3], [4] where it is implicitely approached for technical purposes. In our present work, this problem is approached in itself for the main reason that it is essentially related with the problem of the existence of significant countable additive measures lying in the cores of the "market games". In fact, it is shown here that there exists a continuous value on the closed subspace bv′ICA of IBV spanned by the bv′ functions of "fuzzy probability measures" ([9]), this values is "diagonal" on pICA, the closed subspace of bv′ICA spanned by the natural powers of the fuzzy measures and this is used to prove the main result stating that the cooperative markets contained in pICA have unique fuzzy measures in their cores which are exactly the corresponding diagonal values. This result is of interest because it is providing a tool of determining CA measures lying in the cores of large classes of games which are not necessarily "non-atomic" and, specially, because it is opening a way toward a new approach of the "Value Equivalence Principle" for differentiable markets with a continuum of traders which are not "perfectly competitive".

Original languageEnglish
Pages (from-to)43-68
Number of pages26
JournalInternational Journal of Game Theory
Issue number1
StatePublished - Mar 1987
Externally publishedYes


  • Fuzzy game
  • cooperative market
  • core
  • extension
  • fuzzy measure
  • value

ASJC Scopus subject areas

  • Statistics and Probability
  • Mathematics (miscellaneous)
  • Social Sciences (miscellaneous)
  • Economics and Econometrics
  • Statistics, Probability and Uncertainty


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