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New Axiomatizations and an Implementation of the Shapley Value

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Author Info

  • Kongo, T.
  • Funaki, Y.
  • Tijs, S.H.

    (Tilburg University, Center for Economic Research)

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    Abstract

    Some new axiomatic characterizations and recursive formulas of the Shapley value are presented. In the results, dual games and the self-duality of the value implicitly play an important role. A set of non-cooperative games which implement the Shapley value on the class of all games is given.

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    File URL: http://arno.uvt.nl/show.cgi?fid=66536
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    Bibliographic Info

    Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2007-90.

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    Date of creation: 2007
    Date of revision:
    Handle: RePEc:dgr:kubcen:200790

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    Web page: http://center.uvt.nl

    Related research

    Keywords: Shapley value; axiomatization; implementation;

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    References

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    1. NEYMAN, Abraham, 1988. "Uniqueness of the Shapley value," CORE Discussion Papers 1988013, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. Vidal-Puga, Juan & Bergantinos, Gustavo, 2003. "An implementation of the Owen value," Games and Economic Behavior, Elsevier, vol. 44(2), pages 412-427, August.
    3. Maschler, M & Owen, G, 1989. "The Consistent Shapley Value for Hyperplane Games," International Journal of Game Theory, Springer, vol. 18(4), pages 389-407.
    4. GĂ©rard Hamiache, 2001. "Associated consistency and Shapley value," International Journal of Game Theory, Springer, vol. 30(2), pages 279-289.
    5. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May.
    6. Chun, Youngsub, 1989. "A new axiomatization of the shapley value," Games and Economic Behavior, Elsevier, vol. 1(2), pages 119-130, June.
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    Cited by:
    1. Conrado Manuel & Enrique Gonzalez-Aranguena & Rene van den Brink|, 2012. "Players Indifferent to Cooperate and Characterizations of the Shapley Value," Tinbergen Institute Discussion Papers 12-036/1, Tinbergen Institute.
    2. Conrado Manuel & Enrique Gonzalez-Aranguena & Rene van den Brink|, 2012. "Players Indifferent to Cooperate and Characterizations of the Shapley Value," Tinbergen Institute Discussion Papers 12-036/1, Tinbergen Institute.

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