Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/68233
Authors: 
Casajus, André
Year of Publication: 
2012
Series/Report no.: 
Working Paper, Universität Leipzig, Wirtschaftswissenschaftliche Fakultät 114
Abstract: 
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 change, a player can only gain at the expense of another one. Additivity and the equal treatment axiom are substituted by fairness (van den Brink, 2001, Int J Game Theory 30: 309-319) or differential marginality (Casajus, 2011, Theor Decis 71: 163-174), where the latter requires equal productivity differentials of two players to translate into equal payoff differentials. The third axiom of our characterization is the standard dummy player axiom.
Subjects: 
shapley value
gain-loss axiom
differential marginality
efficiency
additivity
JEL: 
C71
D60
Document Type: 
Working Paper

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