Gain–loss and new axiomatizations of the Shapley value

Erfang Shan, Zeguang Cui and Wenrong Lyu

Economics Letters, 2023, vol. 228, issue C

Abstract: The aim of this paper is to provide new axiomatizations of the Shapley value that generalize previous characterizations. The first characterization employs the gain–loss property, sign differential marginality and the dummy player property. In the second axiomatization, we use the axioms of the gain–loss property, sign symmetry, marginality and the inessential game property. Finally, we introduce the sign marginality property and characterize the Shapley value by combining the property with the other properties.

Keywords: TU-game; Shapley value; Gain–loss; Sign differential marginality; Sign symmetry (search for similar items in EconPapers)
JEL-codes: C71 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:228:y:2023:i:c:s0165176523001933

DOI: 10.1016/j.econlet.2023.111168

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