Corrigendum to “Values for environments with externalities – the average approach” [Games Econ. Behav., (2018), 108,  (49–64), 10.1016/j.geb.2017.08.003)

Inés Macho-Stadler; David Pérez-Castrillo; David Wettstein

doi:10.1016/j.geb.2025.11.002

Corrigendum to “Values for environments with externalities – the average approach” [Games Econ. Behav., (2018), 108, (49–64), 10.1016/j.geb.2017.08.003)

Inés Macho-Stadler
, David Pérez-Castrillo
, David Wettstein

Department of Economics

Research output: Contribution to journal › Comment/debate

Abstract

Theorem 1 in Macho-Stadler et al. (2018) is incorrect. In this note, we correct the theorem by introducing a new axiom, the non-negative payoffs axiom, and adjusting the proof accordingly. We also discuss the implications of this correction for other results presented in the paper.

Original language	English
Pages (from-to)	267-269
Number of pages	3
Journal	Games and Economic Behavior
Volume	155
DOIs	https://doi.org/10.1016/j.geb.2025.11.002
State	Published - 1 Jan 2026

Keywords

Average approach
Externalities
Sharing the surplus

ASJC Scopus subject areas

Finance
Economics and Econometrics

Access to Document

10.1016/j.geb.2025.11.002

Cite this

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abstract = "Theorem 1 in Macho-Stadler et al. (2018) is incorrect. In this note, we correct the theorem by introducing a new axiom, the non-negative payoffs axiom, and adjusting the proof accordingly. We also discuss the implications of this correction for other results presented in the paper.",

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AU - Macho-Stadler, Inés

AU - Pérez-Castrillo, David

AU - Wettstein, David

PY - 2026/1/1

Y1 - 2026/1/1

N2 - Theorem 1 in Macho-Stadler et al. (2018) is incorrect. In this note, we correct the theorem by introducing a new axiom, the non-negative payoffs axiom, and adjusting the proof accordingly. We also discuss the implications of this correction for other results presented in the paper.

AB - Theorem 1 in Macho-Stadler et al. (2018) is incorrect. In this note, we correct the theorem by introducing a new axiom, the non-negative payoffs axiom, and adjusting the proof accordingly. We also discuss the implications of this correction for other results presented in the paper.

KW - Average approach

KW - Externalities

KW - Sharing the surplus

UR - https://www.scopus.com/pages/publications/105032656503

U2 - 10.1016/j.geb.2025.11.002

DO - 10.1016/j.geb.2025.11.002

M3 - Comment/debate

AN - SCOPUS:105032656503

SN - 0899-8256

VL - 155

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EP - 269

JO - Games and Economic Behavior

JF - Games and Economic Behavior

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