IDEAS home Printed from https://ideas.repec.org/a/cup/jwecon/v7y2012i02p169-180_00.html

Shapley Ranking of Wines

Author

Listed:
  • Ginsburgh, Victor
  • Zang, Israël

Abstract

We suggest a new game-theory-based ranking method for wines, in which the Shapley Value of each wine is computed, and wines are ranked according to their Shapley Values. Judges should find it simpler to use, since they are not required to rank order or grade all the wines, but merely to choose the group of those that they find meritorious. Our ranking method is based on the set of reasonable axioms that determine the Shapley Value as the unique solution of an underlying cooperative game. Unlike in the general case, where computing the Shapley Value could be complex, here the Shapley Value and hence the final ranking, are straightforward to compute. (JEL Classification: C71, D71, D78)

Suggested Citation

  • Ginsburgh, Victor & Zang, Israël, 2012. "Shapley Ranking of Wines," Journal of Wine Economics, Cambridge University Press, vol. 7(2), pages 169-180, November.
    • Handle: RePEc:cup:jwecon:v:7:y:2012:i:02:p:169-180_00
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1931436112000351/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Pierre Dehez & Victor Ginsburgh, 2020. "Approval voting and Shapley ranking," Public Choice, Springer, vol. 184(3), pages 415-428, September.
    2. Ruffin-Benoît M. Ngoie & Selain K. Kasereka & Jean-Aimé B. Sakulu & Kyandoghere Kyamakya, 2024. "Mean-Median Compromise Method: A Novel Deepest Voting Function Balancing Range Voting and Majority Judgment," Mathematics, MDPI, vol. 12(22), pages 1-31, November.
    3. Gergaud, Olivier & Ginsburgh, Victor & Moreno-Ternero, Juan D., 2022. "Revisiting the Judgment of Paris. The Rise and the Fall of Stag’s Leap Wine Cellars," Working Papers 321844, American Association of Wine Economists.
    4. Gergaud, Olivier & Ginsburgh, Victor & Moreno-Ternero, Juan D., 2022. "Tracking the wines of the Judgment of Paris over time: The case of Stag's Leap Wine Cellars’ Cabernet Sauvignon," Journal of Wine Economics, Cambridge University Press, vol. 17(2), pages 159-166, May.
    5. Algaba, Encarnación & Béal, Sylvain & Fragnelli, Vito & Llorca, Natividad & Sánchez-Soriano, Joaquin, 2019. "Relationship between labeled network games and other cooperative games arising from attributes situations," Economics Letters, Elsevier, vol. 185(C).
    6. Ginsburgh, Victor & Moreno-Ternero, Juan D. & Weber, Shlomo, 2017. "Ranking languages in the European Union: Before and after Brexit," European Economic Review, Elsevier, vol. 93(C), pages 139-151.
    7. Olivier Gergaud & Victor Ginsburgh & Juan D. Moreno-Ternero, 2020. "Wine Ratings," Working Papers ECARES 2020-38, ULB -- Universite Libre de Bruxelles.
    8. Olivier Gergaud & Victor Ginsburgh & Juan D. Moreno-Ternero, 2022. "Tracking Quality Assessments Over Time. The Rise and Fall of S.L.V. Cabernet Sauvignon," Working Papers ECARES 2022-13, ULB -- Universite Libre de Bruxelles.
    9. Victor Ginsburgh, 2016. "On judging art and wine," ULB Institutional Repository 2013/253323, ULB -- Universite Libre de Bruxelles.
    10. Sylvain Béal & Stéphane Gonzalez & Philippe Solal & Peter Sudhölter, 2023. "Axiomatic characterizations of the core without consistency," International Journal of Game Theory, Springer;Game Theory Society, vol. 52(3), pages 687-701, September.
    11. Victor Ginsburgh & Juan D. Moreno-Ternero, 2023. "The Eurovision Song Contest: voting rules, biases and rationality," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 47(2), pages 247-277, June.
    12. Barberà, Salvador & Bossert, Walter & Moreno-Ternero, Juan D., 2023. "Wine rankings and the Borda method," Journal of Wine Economics, Cambridge University Press, vol. 18(2), pages 122-138, May.
    13. Delmas, Magali A. & Gergaud, Olivier, 2021. "Sustainable practices and product quality: Is there value in eco-label certification? The case of wine," Ecological Economics, Elsevier, vol. 183(C).
    14. Gergaud, Olivier & Ginsburgh, Victor & Moreno-Ternero, Juan D., 2021. "Wine Ratings: Seeking a Consensus among Tasters via Normalization, Approval, and Aggregation," Journal of Wine Economics, Cambridge University Press, vol. 16(3), pages 321-342, August.

    More about this item

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jwecon:v:7:y:2012:i:02:p:169-180_00. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/jwe .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.