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|
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- 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).
- 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).
- 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.
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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.
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