- Power Indices And The Veil Of Ignorance
AbstractWe provide an axiomatic foundation of the expected utility preferences over lotteries on roles in simple superadditive games represented by the two main power indices, the Shapley-Shubik index and the Banzhaf index, when they are interpreted as von Neumann-Morgenstern utility functions. Our axioms admit meaningful interpretations in the setting proposed by Roth in terms of different attitudes toward risk involving roles in collective decision procedures under the veil of ignorance. In particular, an illuminating interpretation of ''efficiency'', up to now missing in this set up, as well as of the corresponding axiom for the Banzhaf index, is provided.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 2000-13.
Length: 19 pages
Date of creation: Jun 2000
Date of revision:
Publication status: Published by Ivie
Power indices; voting power; collective decision-making; lotteries;
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.:
- Blair, Douglas H. & McLean, Richard P., 1990. "Subjective evaluations of n-person games," Journal of Economic Theory, Elsevier, vol. 50(2), pages 346-361, April.
- Annick Laruelle & Federico Valenciano, 2008. "Potential, value, and coalition formation," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer, vol. 16(1), pages 73-89, July.
- Annick Laruelle & Federico Valenciano, 2005.
"A critical reappraisal of some voting power paradoxes,"
Springer, vol. 125(1), pages 17-41, July.
- Federico Valenciano & Annick Laruelle, 2004. "A Critical Reappraisal Of Some Voting Power Paradoxes," Working Papers. Serie AD 2004-04, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Paolo Di Giannatale, Francesco Passarelli, 2011.
"Voting Chances Instead of Voting Weights,"
ISLA Working Papers
40, ISLA, Centre for research on Latin American Studies and Transition Economies, Universita' Bocconi, Milano, Italy.
- Federico Valenciano & Annick Laruelle, 2003. "Potential, Value And Probability," Working Papers. Serie AD 2003-01, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Departamento de Edición).
If references are entirely missing, you can add them using this form.