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Associated consistency and Shapley value

Author

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  • Gérard Hamiache

    (CERESUR, Centre d'Études et de Recherches Économiques et Sociales de l'Université de La Réunion and GREQAM, Groupement de Recherche en Économie Quantitative d'Aix-Marseille. Accepted September 2001)

Abstract

In this work, a new axiomatization of the Shapley is presented. An associated game is constructed. We define a sequence of games, when the term of order n, in this sequence, is the associated game of the term of order (n-1). We show that the sequence converges and that the limit game is inessential. The solution is obtained using the inessential game axiom, the associated consistency axiom and the continuity axiom. As a by-product, we note that neither the additivity nor the efficiency axioms are needed.

Suggested Citation

  • Gérard Hamiache, 2001. "Associated consistency and Shapley value," International Journal of Game Theory, Springer;Game Theory Society, vol. 30(2), pages 279-289.
    • Handle: RePEc:spr:jogath:v:30:y:2001:i:2:p:279-289
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    Keywords

    Shapley value · associated game · consistency.;

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games

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