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Null players, solidarity, and the egalitarian Shapley values

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  • Casajus, André
  • Hüttner, Frank

Abstract

The Shapley value certainly is the most eminent single-point solution concept for TU-games. In its standard characterization, the null player property indicates the absence of solidarity among the players. First, we replace the null player property by a new axiom that guarantees null players non-negative payoffs whenever the grand coalition's worth is non-negative. Second, the equal treatment property is strengthened into desirability. This way, we obtain a new characterization of the class of egalitarian Shapley values, i.e., of convex combinations of the Shapley value and the equal division solution. We complement this result by characterizations of the class of generalized consensus values, i.e., of convex combinations of the Shapley value and the equal surplus division solution. --

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Bibliographic Info

Paper provided by University of Leipzig, Faculty of Economics and Management Science in its series Working Papers with number 113.

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Date of creation: 2012
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Handle: RePEc:zbw:leiwps:113

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Keywords: Solidarity; egalitarian Shapley value; equal division value; desirability; generalized consensus value;

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  1. Thomas M. Steger & Lucas Bretschger, 2005. "Globalization, the volatility of intermediate goods prices and economic growth," CER-ETH Economics working paper series 05/40, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  2. McKinnon, Ronald & Schnabl, Gunther, 2008. "China's exchange rate impasse and the weak U.S. dollar," Working Papers 73, University of Leipzig, Faculty of Economics and Management Science.
  3. Grossmann, Volker & Steger, Thomas M. & Trimborn, Timo, 2011. "The Macroeconomics of TANSTAAFL," Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Leibniz Universität Hannover dp-482, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
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Cited by:
  1. Sylvain Béal & Eric Rémila & Philippe Solal, 2013. "Preserving or removing special players: what keeps your payoff unchanged in TU-games?," Working Papers 2013-09, CRESE.

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