It is well known since Owen (Manag. Sci. 1968) that the weights in the weighted Shapley value cannot be interpreted as a measure of power (i.e. of the ability to bargain) of the players. This paper proposes a new weight scheme for the Shapley value. Weights in this framework have to be interpreted as a measure of bargaining power. Two different axiomatic characterizations of this new value are proposed: one including the weights in the axioms and one without.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. 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.
Publisher Info
Paper provided by Bureau d'Economie Théorique et Appliquée, ULP, Strasbourg in its series Working Papers of BETA with number
9910.
Find related papers by JEL classification: C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
References listed on IDEAS 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.:
Ehud Kalai & Dov Samet, 1983.
"On Weighted Shapley Values,"
Discussion Papers
602, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
[Downloadable!]
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.)