The Shapley Value, The Owen Value, And The Veil Of Ignorance
AbstractWe show that the Owen value for TU games with a cooperation structure extends the Shapley value in a consistent way. In particular, the Shapley value is the expected Owen value for all symmetric distributions on the partitions of the player set. Similar extensions of the Banzhaf value do not show this property.
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Bibliographic InfoArticle provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.
Volume (Year): 11 (2009)
Issue (Month): 04 ()
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Web page: http://www.worldscinet.com/igtr/igtr.shtml
Find related papers by JEL classification:
- B4 - Schools of Economic Thought and Methodology - - Economic Methodology
- C0 - Mathematical and Quantitative Methods - - General
- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- D5 - Microeconomics - - General Equilibrium and Disequilibrium
- D7 - Microeconomics - - Analysis of Collective Decision-Making
- M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics
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- Maria Ekes, 2013. "Application of Generalized Owen Value for Voting Games in Partition Function Form," Collegium of Economic Analysis Annals, Warsaw School of Economics, Collegium of Economic Analysis, issue 32, pages 43-53.
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