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Power Indices: Shapley-Shubik OR Penrose-Banzhaf?

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Author Info
František Turnovec () (Institute of Economic Studies, Faculty of Social Sciences, Charles University, Prague, Czech Republic)
Jacek W. Mercik (Wroclaw University of Technology, Wroclaw College of Management and Finance)
Mariusz Mazurkiewicz (Wroclaw University of Technology, Wroclaw College of Management and Finance)

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Abstract

Shapley-Shubik and Penrose-Banzhaf (absolute and relative) power measures and their interpretations are analysed. Both of them could be successfully derived as cooperative game values, and at the same time both of them can be interpreted as probabilities of some decisive position (pivot, swing) without using cooperative game theory at all. In the paper we show that one has to be very careful in interpretation of results based on relative PB-power index and not to use it without absolute PB-power index, what is frequently the case in many published studies.

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Publisher Info
Paper provided by Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies in its series Working Papers IES with number 48.

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Length: 8 pages
Date of creation: 2004
Date of revision: 2004
Handle: RePEc:fau:wpaper:wp048

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Related research
Keywords: absolute power; cooperative games; I-power; pivot; power indices; relative power; P-power; swing;

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Find related papers by JEL classification:
D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances

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  1. Karel Janda, 2003. "Credit Guarantees In A Credit Market With Adverse Selection," Prague Economic Papers, University of Economics, Prague, vol. 2003(4). [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. František Turnovec, 2007. "New Measure of Voting Power," AUCO Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 1(1), pages 04-14, March. [Downloadable!]
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  2. Kateřina Šmídková & Aleš Bulíř, 2004. "Would Fast Sailing towards the Euro Be Smooth? What Fundamental Real Exchange Rates Tells Us about Acceding Economies," Working Papers IES 64, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2004. [Downloadable!]
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  3. Kateřina Tsolov, 2005. "ADR/GDR Potential in Central Europe," Working Papers IES 92, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005. [Downloadable!]
  4. Jan Zápal, 2005. "Judging the Sustainability of Czech Public Finances," Working Papers IES 73, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005. [Downloadable!]
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  5. Karel Janda, 2005. "The Comparative Statics of the Effects of Credit Guarantees and Subsidies in the Competitive Lending Market," Working Papers IES 82, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005. [Downloadable!]
  6. Lukáš Vácha & Miloslav Vošvrda, 2005. "Heterogeneous Agents Model with the Worst Out Algorithm," Working Papers IES 91, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005. [Downloadable!]
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  7. Tomáš Cahlík & Tomáš Honzák & Jana Honzáková & Marcel Jiřina & Natálie Reichlová, 2005. "Convergence of Consumption Structure," Working Papers IES 99, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005. [Downloadable!]
  8. Tomáš Cahlík & Adam Geršl & Michal Hlaváček & Michael Berlemann, 2005. "Market Prices as Indicators of Political Events Evidence from the Experimental Market on the Czech Republic Parliamentary Election in 2002," Working Papers IES 77, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005. [Downloadable!]
  9. Adam Geršl, 2005. "Political Economy of Public Deficit: Perspectives for Constitutional Reform," Working Papers IES 98, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005. [Downloadable!]
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  10. František Turnovec, 2005. "Arithmetic of Property Rights: A Leontief-type Model of Ownership Structures," Working Papers IES 70, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005. [Downloadable!]
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  11. Jan Kodera & Miroslav Vošvrda, 2005. "Production, Capital Stock and Price Dynamics in a Simple Model of Closed Economy," Working Papers IES 93, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005. [Downloadable!]
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  12. Wadim Strielkowski & Cathal O'Donoghue, 2005. "Ready to Go? EU Enlargement and Migration Potential: Lessons from the Czech Republic in the Context of the Irish Migration Experience," Working Papers IES 74, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005. [Downloadable!]
  13. Ondøej Vychodil & Ondøej Knot, 2004. "What Drives the Optimal Bankruptcy Law Design?," Working Papers IES 62, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2004. [Downloadable!]
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