Associated consistency and Shapley value

Associated consistency and Shapley value

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Article ID: iaor2003670
Country: Germany
Volume: 30
Issue: 2
Start Page Number: 279
End Page Number: 289
Publication Date: Jan 2001
Journal: International Journal of Game Theory
Authors:
Abstract:

In this work, a new axiomatization of the Shapley value is presented. An associated game is constructed. We define a sequence of games, when the term of order n, in this sequence, is the associated game of the term of order (n − 1). We show that the sequence converges and that the limit game is inessential. The solution is obtained using the inessential game axiom, the associated consistency axiom and the continuity axiom. As a by-product, we note that neither the additivity nor the efficiency axioms are needed.

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