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An axiomatization of the Shapley value using a fairness property

Author

Listed:
  • René van den Brink

    (Department of Econometrics, Free University, De Boelelaan 1105, 1081 HV Amsterdam, The Netherlands Revised August 2001)

Abstract

In this paper we provide an axiomatization of the Shapley value for TU-games using a fairness property. This property states that if to a game we add another game in which two players are symmetric then their payoffs change by the same amount. We show that the Shapley value is characterized by this fairness property, efficiency and the null player property. These three axioms also characterize the Shapley value on the class of simple games.

Suggested Citation

  • René van den Brink, 2002. "An axiomatization of the Shapley value using a fairness property," International Journal of Game Theory, Springer;Game Theory Society, vol. 30(3), pages 309-319.
    • Handle: RePEc:spr:jogath:v:30:y:2002:i:3:p:309-319
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    Keywords

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    JEL classification:

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

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