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The Shapley Value, The Owen Value, And The Veil Of Ignorance

Author

Listed:
  • ANDRÉ CASAJUS

    (HHL Leipzig Graduate School of Management, Jahnallee 59, D-04109 Leipzig, Germany;
    Wirtschaftswissenschaftliche Fakultät, Universität Leipzig, PF 100920, D-04009 Leipzig, Germany)

Abstract

We show that the Owen value for TU games with a cooperation structure extends the Shapley value in a consistent way. In particular, the Shapley value is the expected Owen value for all symmetric distributions on the partitions of the player set. Similar extensions of the Banzhaf value do not show this property.

Suggested Citation

  • André Casajus, 2009. "The Shapley Value, The Owen Value, And The Veil Of Ignorance," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 11(04), pages 453-457.
    • Handle: RePEc:wsi:igtrxx:v:11:y:2009:i:04:n:s0219198909002431
    DOI: 10.1142/S0219198909002431
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    Cited by:

    1. Carlos Alberto Tovar Jaco & Madeleyne Karol Mucha Alhuay & Pedro Bernabe Venegas Rodriguez & Nivardo Alonzo Santill¨¢n Zapata & Jimmy Alberth Deza Quispe, 2021. "Analysis of Macroeconomic Determinants of Peruvian Gold Export Value in the Period 2003-2019," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 12(2), pages 43-54, April.
    2. Erick González & Rafael A. Espín & Gustavo Mazcorro, 2012. "Fuzzy Negotiation Solutions of n-Person Cooperative Games by Knowledge Engineering in Bargaining," Group Decision and Negotiation, Springer, vol. 21(2), pages 133-152, March.
    3. Maria Ekes, 2013. "Application of Generalized Owen Value for Voting Games in Partition Function Form," Collegium of Economic Analysis Annals, Warsaw School of Economics, Collegium of Economic Analysis, issue 32, pages 43-53.

    More about this item

    Keywords

    Shapley value; Owen value; Banzhaf value; extension; consistency; C71;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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