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Power Indices: Shapley-Shubik OR Penrose-Banzhaf?

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Abstract

Shapley-Shubik and Penrose-Banzhaf (absolute and relative) power measures and their interpretations are analysed. Both of them could be successfully derived as cooperative game values, and at the same time both of them can be interpreted as probabilities of some decisive position (pivot, swing) without using cooperative game theory at all. In the paper we show that one has to be very careful in interpretation of results based on relative PB-power index and not to use it without absolute PB-power index, what is frequently the case in many published studies.

Suggested Citation

  • František Turnovec & Jacek W. Mercik & Mariusz Mazurkiewicz, 2004. "Power Indices: Shapley-Shubik OR Penrose-Banzhaf?," Working Papers IES 48, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2004.
  • Handle: RePEc:fau:wpaper:wp048
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    File URL: http://ies.fsv.cuni.cz/default/file/download/id/1924
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    1. Karel Janda, 2003. "Credit guarantees in a credit market with adverse selection," Prague Economic Papers, University of Economics, Prague, vol. 2003(4).
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    Citations

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    Cited by:

    1. Jan Zápal, 2007. "Judging the Sustainability of Czech Public Finances," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 1(1), pages 15-31, March.
    2. Karel Janda, 2005. "The Comparative Statics of the Effects of Credit Guarantees and Subsidies in the Competitive Lending Market," Working Papers IES 82, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005.
    3. Kateřina Tsolov, 2005. "ADR/GDR Potential in Central Europe," Working Papers IES 92, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005.
    4. Wadim Strielkowski & Cathal O'Donoghue, 2005. "Ready to Go? EU Enlargement and Migration Potential: Lessons from the Czech Republic in the Context of the Irish Migration Experience," Working Papers IES 74, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005.
    5. Miloslav Vošvrda & Lukáš Vácha, 2007. "Heterogeneous Agents Model with the Worst Out Algorithm," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 1(1), pages 54-66, March.
    6. Ondøej Vychodil & Ondøej Knot, 2004. "What Drives the Optimal Bankruptcy Law Design?," Working Papers IES 62, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2004.
    7. Adam Geršl, 2007. "Political Economy of Public Deficit: Perspectives for Constitutional Reform," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 1(1), pages 67-86, March.
    8. Kateřina Šmídková & Aleš Bulíř, 2004. "Would Fast Sailing towards the Euro Be Smooth? What Fundamental Real Exchange Rates Tells Us about Acceding Economies," Working Papers IES 64, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2004.
    9. Jan Kodera & Miroslav Vošvrda, 2005. "Production, Capital Stock and Price Dynamics in a Simple Model of Closed Economy," Working Papers IES 93, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005.
    10. Tomáš Cahlík & Tomáš Honzák & Jana Honzáková & Marcel Jiřina & Natálie Reichlová, 2005. "Convergence of Consumption Structure," Working Papers IES 99, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005.
    11. FrantiÜek Turnovec, 2005. "Arithmetics of Property Rights: A Leontief-type Model of Ownership Structures," Homo Oeconomicus, Institute of SocioEconomics, vol. 23, pages 371-379.
    12. Tomáš Cahlík & Adam Geršl & Michal Hlaváček & Michael Berlemann, 2005. "Market Prices as Indicators of Political Events Evidence from the Experimental Market on the Czech Republic Parliamentary Election in 2002," Working Papers IES 77, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005.
    13. Jacek Mercik, 2009. "A priori veto power of the president of Poland," Operations Research and Decisions, Wroclaw University of Technology, Institute of Organization and Management, vol. 4, pages 61-75.
    14. František Turnovec, 2007. "New Measure of Voting Power," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 1(1), pages 04-14, March.
    15. Jacek Mercik, 2009. "A priori veto power of the president of Poland," Operations Research and Decisions, Wroclaw University of Technology, Institute of Organization and Management, vol. 4, pages 61-75.

    More about this item

    Keywords

    absolute power; cooperative games; I-power; pivot; power indices; relative power; P-power; swing;

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions

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