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Computing Classical Power Indices For Large Finite Voting Games

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  • Leech, D.

Abstract

Voting Power Indices enable the analysis of the distribution of power in a legislature or voting body in which different members have different numbers of votes. Although this approach to the measurement of power, based on co-operative game theory, has been known for a long time its empirical application has been to some extent limited, in part by the difficulty of computing the indices when there are many players. This paper presents new algorithms for computing the classical power indices, those of Shapley and Shubik (1954) and of Banzhaf (1963), which are essentially modifications of approximation methods due to Owen, and have been shown to work well in real applications.

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File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/2008/twerpleech.pdf
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Bibliographic Info

Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 579.

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Length: 23 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:wrk:warwec:579

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Related research

Keywords: VOTING ; INDEXES ; GAMES;

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References

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  1. Widgren, Mika, 1994. "Voting power in the EC decision making and the consequences of two different enlargements," European Economic Review, Elsevier, vol. 38(5), pages 1153-1170, May.
  2. Dennis Leech, 1988. "The Relationship Between Shareholding Concentration and Shareholder Voting Power in British Companies: A Study of the Application of Power Indices for Simple Games," Management Science, INFORMS, vol. 34(4), pages 509-527, April.
  3. Guillermo Owen, 1972. "Multilinear Extensions of Games," Management Science, INFORMS, vol. 18(5-Part-2), pages 64-79, January.
  4. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 1998. "Corporate Ownership Around the World," Harvard Institute of Economic Research Working Papers 1840, Harvard - Institute of Economic Research.
  5. Straffin, Philip Jr., 1994. "Power and stability in politics," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 2, chapter 32, pages 1127-1151 Elsevier.
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Cited by:
  1. Dennis Leech & Miguel Manjón, 2002. "Corporate Governance in Spain (with an Application of the Power Indices Approach)," European Journal of Law and Economics, Springer, vol. 13(2), pages 157-173, March.

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