Showing 1 - 10 of 22
In the absence of externalities, marginality is equivalent to an independence property that rests on Harsanyi's dividends. These dividends identify the surplus inherent to each coalition. Independence states that a player's payoff stays the same if only dividends of coalitions to which this...
Persistent link: https://www.econbiz.de/10012014881
The Coleman Power of the Collectivity to Act (CPCA) is a popular statistic that reflects the ability of a committee to pass a proposal. Applying the Shapley value to this measure, we derive a new power index that indicates each voter's contribution to the CPCA. This index is characterized by...
Persistent link: https://www.econbiz.de/10011846376
We consider an analytic formulation/parametrization of the class of efficient, linear, and symmetric values for TU games that, in contrast to previous approaches, which rely on the standard basis, rests on the linear representation of TU games by unanimity games. Unlike most of the other...
Persistent link: https://www.econbiz.de/10010309488
We provide new characterizations of the equal surplus division value and the equal division value as well as of the class of their convex mixtures. This way, the difference between the Shapley value, the equal division value, and the equal surplus division value is pinpointed to one axiom....
Persistent link: https://www.econbiz.de/10010309489
The Shapley value certainly is the most eminent single-point solution concept for TU-games. In its standard characterization, the null player property indicates the absence of solidarity among the players. First, we replace the null player property by a new axiom that guarantees null players...
Persistent link: https://www.econbiz.de/10010310158
We provide a new characterization of the Shapley value neither using the efficiency axiom nor the additivity axiom. In this characterization, efficiency is replaced by the gain-loss axiom (Einy and Haimanko, 2011, Game Econ Behav 73: 615-621), i.e., whenever the total worth generated does not...
Persistent link: https://www.econbiz.de/10010311060
The Shapley value certainly is the most eminent single-point solution concept for TU-games. In its standard characterization, the null player property indicates the absence of solidarity among the players. First, we replace the null player property by a new axiom that guarantees null players...
Persistent link: https://www.econbiz.de/10009578187
We consider an analytic formulation/parametrization of the class of efficient, linear, and symmetric values for TU games that, in contrast to previous approaches, which rely on the standard basis, rests on the linear representation of TU games by unanimity games. Unlike most of the other...
Persistent link: https://www.econbiz.de/10009565677
We provide new characterizations of the equal surplus division value and the equal division value as well as of the class of their convex mixtures. This way, the difference between the Shapley value, the equal division value, and the equal surplus division value is pinpointed to one axiom....
Persistent link: https://www.econbiz.de/10009565680
We provide a new characterization of the Shapley value neither using the efficiency axiom nor the additivity axiom. In this characterization, efficiency is replaced by the gain-loss axiom (Einy and Haimanko, 2011, Game Econ Behav 73: 615-621), i.e., whenever the total worth generated does not...
Persistent link: https://www.econbiz.de/10009680709