Axiomatizations of the proportional Shapley value

Manfred Besner

MPRA Paper from University Library of Munich, Germany

Abstract: We provide new axiomatic characterizations of the proportional Shapley value, a weighted value with the worths of the singletons as weights. This value satisfies anonymity and therefore symmetry just as the Shapley value and has characterizations which are proportional counterparts to the famous characterizations of the Shapley value in Shapley (1953b), Myerson (1980) and Young (1985a). If the stand alone worths are plausible weights the proportional Shapley value is a convincing alternative to the Shapley value for example in cost allocation. We introduce two new axioms, called proportionality and player splitting respectively. Each of which gives a main difference between the proportional Shapley value and the Shapley value.

Keywords: Cost allocation; Dividends; Proportional Shapley value; (Weighted) Shapley value; Proportionality; Player splitting (search for similar items in EconPapers)
JEL-codes: C7 C71 (search for similar items in EconPapers)
Date: 2017-07-19
New Economics Papers: this item is included in nep-gth and nep-ore
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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https://mpra.ub.uni-muenchen.de/83103/1/MPRA_paper_83103.pdf revised version (application/pdf)
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https://mpra.ub.uni-muenchen.de/93439/1/MPRA_paper_89193.pdf revised version (application/pdf)

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