Shapley Ranking of Wines
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.
|Date of creation:||Dec 2012|
|Date of revision:|
|Publication status:||Published by:|
|Contact details of provider:|| Postal: Av. F.D., Roosevelt, 39, 1050 Bruxelles|
Phone: (32 2) 650 30 75
Fax: (32 2) 650 44 75
Web page: http://difusion.ulb.ac.be
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- GINSBURGH, Victor & ZANG, Israël, 2002.
"The museum pass game and its value,"
CORE Discussion Papers
2002041, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Victor Ginsburgh & ISRAEL Zang, 2003. "The museum pass game and its value," ULB Institutional Repository 2013/1683, ULB -- Universite Libre de Bruxelles.
- GINSBURGH, Victor & ZANG, Israel, . "The museum pass game and its value," CORE Discussion Papers RP 1615, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Quandt, Richard E., 2006. "Measurement and Inference in Wine Tasting," Journal of Wine Economics, Cambridge University Press, vol. 1(01), pages 7-30, March.
- Martin J. Osborne & Ariel Rubinstein, 1994.
"A Course in Game Theory,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262650401, March.
- Robert J. Weber, 1995. "Approval Voting," Journal of Economic Perspectives, American Economic Association, vol. 9(1), pages 39-49, Winter.
When requesting a correction, please mention this item's handle: RePEc:eca:wpaper:2013/135012. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Benoit Pauwels)
If references are entirely missing, you can add them using this form.