Economics at your fingertips  

The proportional Shapley value and an application

Sylvain Béal (), Sylvain Ferrières (), Eric Rémila and Philippe Solal

No 2016-08, Working Papers from CRESE

Abstract: We introduce a non linear weighted Shapley value for cooperative games with transferable utility,in which the weights are endogenously given by the players’ stand-alone worths. We call it theproportional Shapley value since it distributes the Harsanyi dividend (Harsanyi, 1959) of all coalitions in proportion to the stand-alone worths of its members. We show that this value recommends an appealing payoff distribution in a land production economy introduced in Shapley and Shubik (1967). Although the proportional Shapley value does not satisfy the classical axioms of linearity and consistency (Hart and Mas-Colell, 1989), the main results provide comparable axiomatic characterizations of our value and the Shapley value by means of weak versions of these two axioms. Moreover, our value inherits several well-known properties of the weighted Shapley values.

Keywords: (Weighted) Shapley value; proportionality; Harsanyi dividends; potential; land production economy (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-gth and nep-mic
Date: 2016-08
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link) First version, 2016 (application/pdf)

Related works:
Working Paper: The proportional Shapley value and an application (2016) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this paper

More papers in Working Papers from CRESE Contact information at EDIRC.
Bibliographic data for series maintained by Christian At ().

Page updated 2018-10-09
Handle: RePEc:crb:wpaper:2016-08