Power Indices: Shapley-Shubik OR Penrose-Banzhaf?

Frantisek Turnovec (), Jacek Mercik and Mariusz Mazurkiewicz
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Mariusz Mazurkiewicz: Wroclaw University of Technology

No 48, Working Papers IES from Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies

Abstract: Shapley-Shubik and Penrose-Banzhaf (absolute and relative) power measures and their interpretations are analysed. Both of them could be successfully derived as cooperative game values, and at the same time both of them can be interpreted as probabilities of some decisive position (pivot, swing) without using cooperative game theory at all. In the paper we show that one has to be very careful in interpretation of results based on relative PB-power index and not to use it without absolute PB-power index, what is frequently the case in many published studies.

Keywords: absolute power; cooperative games; I-power; pivot; power indices; relative power; P-power; swing (search for similar items in EconPapers)
JEL-codes: D71 D74 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2004, Revised 2004
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

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