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An axiomatization of the Shapley value using a fairness property

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  • René van den Brink

    (Department of Econometrics, Free University, De Boelelaan 1105, 1081 HV Amsterdam, The Netherlands Revised August 2001)

Abstract

In this paper we provide an axiomatization of the Shapley value for TU-games using a fairness property. This property states that if to a game we add another game in which two players are symmetric then their payoffs change by the same amount. We show that the Shapley value is characterized by this fairness property, efficiency and the null player property. These three axioms also characterize the Shapley value on the class of simple games.

Suggested Citation

  • René van den Brink, 2002. "An axiomatization of the Shapley value using a fairness property," International Journal of Game Theory, Springer;Game Theory Society, vol. 30(3), pages 309-319.
    • Handle: RePEc:spr:jogath:v:30:y:2002:i:3:p:309-319
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    References listed on IDEAS

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    1. Chun, Youngsub, 1991. "On the Symmetric and Weighted Shapley Values," International Journal of Game Theory, Springer;Game Theory Society, vol. 20(2), pages 183-190.
    2. Roger B. Myerson, 1977. "Graphs and Cooperation in Games," Mathematics of Operations Research, INFORMS, vol. 2(3), pages 225-229, August.
    3. (*), Gerard van der Laan & RenÊ van den Brink, 1998. "Axiomatizations of the normalized Banzhaf value and the Shapley value," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 15(4), pages 567-582.
    4. Lehrer, E, 1988. "An Axiomatization of the Banzhaf Value," International Journal of Game Theory, Springer;Game Theory Society, vol. 17(2), pages 89-99.
    5. Haller, Hans, 1994. "Collusion Properties of Values," International Journal of Game Theory, Springer;Game Theory Society, vol. 23(3), pages 261-281.
    6. Gerard van der Laan & René van den Brink, 1998. "Axiomatization of a class of share functions for n-person games," Theory and Decision, Springer, vol. 44(2), pages 117-148, April.
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    More about this item

    Keywords

    TU-game · Shapley value · fairness · simple games.;

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games

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