Article ID: | iaor19992517 |
Country: | Germany |
Volume: | 47 |
Issue: | 3 |
Start Page Number: | 423 |
End Page Number: | 449 |
Publication Date: | Jan 1998 |
Journal: | Mathematical Methods of Operations Research (Heidelberg) |
Authors: | Ortmann K.M. |
The potential approach of value theory is extended with respect to a new characterizing property called conservation giving a clear interpretation of the potential. Many analogues between game theory and physics are presented. Particularly, there is a theorem of conservation of energy analogous to the highly important one in classical mechanics. Moreover, the Shapley-Value gets a new interpretation as the marginal contribution to a certain average in contrast to that as an average marginal contribution instead. The Banzhaf-Index can also be uniquely characterized by this approach. Finally, all results are extended to games with a continuum of players of finitely many types.