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The balanced contributions property for equal contributors

Koji Yokote, Takumi Kongo and Yukihiko Funaki

Games and Economic Behavior, 2018, vol. 108, issue C, 113-124

Abstract: We introduce a new axiom, which we term the balanced contributions property for equal contributors. This axiom is defined by restricting the requirement of the balanced contributions property (Myerson, 1980) to two players whose contributions to the grand coalition are the same. We prove that this axiom, together with efficiency and weak covariance, characterizes a new class of solutions, termed the r-egalitarian Shapley values. This class subsumes many variants of the Shapley value, e.g., the egalitarian Shapley values and the discounted Shapley values. Our characterization provides a new axiomatic foundation for analyzing variants of the Shapley value in a unified manner.

Keywords: TU games; Balanced contributions property; Shapley value; Axiomatization (search for similar items in EconPapers)
JEL-codes: C71 (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:eee:gamebe:v:108:y:2018:i:c:p:113-124