An axiomatization of the Shapley value using a fairness property

An axiomatization of the Shapley value using a fairness property

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Article ID: iaor2003672
Country: Germany
Volume: 30
Issue: 3
Start Page Number: 309
End Page Number: 319
Publication Date: Jan 2001
Journal: International Journal of Game Theory
Authors:
Abstract:

In this paper we provide an axiomatization of the Shapley value for TU-games using a fairness property. This property states that if to a game we add another game in which two players are symmetric then their payoffs change by the same amount. We show that the Shapley value is characterized by this fairness property, efficiency and the null player property. These three axioms also characterize the Shapley value on the class of simple games.

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