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A concise axiomatization of a Shapley-type value for stochastic coalition processes

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Abstract

The Shapley value is defined as the average marginal contribution of a player, taken over all possible ways to form the grand coalition N when one starts from the empty coalition and adds players one by one. In a previous paper, the authors have introduced an allocation scheme for a general model of coalition formation where the evolution of the coalition of active players is ruled by a Markov chain and need not finish with the grand coalition. This note provides an axiomatization which is weaker than the one in the original paper but allows a much more transparent correctness proof. Moreover, the logical independence of the axioms is proved

Suggested Citation

  • Ulrich Faigle & Michel Grabisch, 2013. "A concise axiomatization of a Shapley-type value for stochastic coalition processes," Documents de travail du Centre d'Economie de la Sorbonne 13052, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    • Handle: RePEc:mse:cesdoc:13052
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    References listed on IDEAS

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    1. Roth, Alvin E, 1980. "Values for Games without Sidepayments: Some Difficulties with Current Concepts," Econometrica, Econometric Society, vol. 48(2), pages 457-465, March.
    2. Shafer, Wayne J, 1980. "On the Existence and Interpretation of Value Allocation," Econometrica, Econometric Society, vol. 48(2), pages 466-476, March.
    3. Ulrich Faigle & Michel Grabisch, 2013. "A note on values for Markovian coalition processes," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 1(2), pages 111-122, November.
    4. repec:hal:pseose:halshs-00912889 is not listed on IDEAS
    5. Ulrich Faigle & Michel Grabisch, 2012. "Values for Markovian coalition processes," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(3), pages 505-538, November.
    6. repec:hal:pseose:halshs-00749950 is not listed on IDEAS
    7. Faigle, U & Kern, W, 1992. "The Shapley Value for Cooperative Games under Precedence Constraints," International Journal of Game Theory, Springer;Game Theory Society, vol. 21(3), pages 249-266.
    8. Scafuri, Allen J & Yannelis, Nicholas C, 1984. "Non-symmetric Cardinal Value Allocations," Econometrica, Econometric Society, vol. 52(6), pages 1365-1368, November.
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    Cited by:

    1. Wang, Yaxian & Zhao, Zhenli & Baležentis, Tomas, 2023. "Benefit distribution in shared private charging pile projects based on modified Shapley value," Energy, Elsevier, vol. 263(PB).

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    More about this item

    Keywords

    Coalitional game; coalition formation process; Shapley value;
    All these keywords.

    JEL classification:

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

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