On axiomatizations of the weighted Shapley values
AbstractThe family of weighted Shapley values for cooperative n-person transferable utility games is studied. We assume first that the weights of the players are given exogenously and provide two axiomatic characterizations of the corresponding weighted Shapley value. Our first characterization is based on the classical axioms determining the Shapley value with the symmetry axiom replaced by a new postulate called the [omega]-mutual dependence. In our second axiomatization we use among other things the strong monotonicity property of Young (1985, Int. J. Game Theory 14, 65-72). Finally, we give a new axiomatic characterization of the family of all weighted Shapley values. Journal of Economic Literature Classification Number: C71, D46.
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Bibliographic InfoArticle provided by Elsevier in its journal Games and Economic Behavior.
Volume (Year): 8 (1995)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/inca/622836
Find related papers by JEL classification:
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
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