Besner, Manfred (2017): Axiomatizations of the proportional Shapley value. Published in: Theory and Decision , Vol. 86, No. 2 (31 January 2019): pp. 161183.
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Abstract
We provide new axiomatic characterizations of the proportional Shapley value, a weighted TUvalue with the worths of the singletons as weights. The presented characterizations are proportional counterparts to the famous characterizations of the Shapley value by Shapley (1953b) and Young (1985a). We introduce two new axioms, called proportionality and player splitting respectively. Each of them makes a main difference between the proportional Shapley value and the Shapley value. If the standalone worths are plausible weights, the proportional Shapley value is a convincing alternative to the Shapley value, for example in cost allocation. Especially the player splitting property, which states that the players’ payoffs do not change if another player splits into two new players who have the same impact to the game as the original player, justifies the use of the proportional Shapley value in many economic situations.
Item Type:  MPRA Paper 

Original Title:  Axiomatizations of the proportional Shapley value 
Language:  English 
Keywords:  Cost allocation; Dividends; Proportional Shapley value; (Weighted) Shapley value; Proportionality; Player splitting 
Subjects:  C  Mathematical and Quantitative Methods > C7  Game Theory and Bargaining Theory C  Mathematical and Quantitative Methods > C7  Game Theory and Bargaining Theory > C71  Cooperative Games 
Item ID:  93439 
Depositing User:  Manfred Besner 
Date Deposited:  22 Apr 2019 18:46 
Last Modified:  22 Apr 2019 18:47 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/93439 
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Axiomatizations of the proportional Shapley value. (deposited 29 Nov 2017 14:28)

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Axiomatizations of the proportional Shapley value. (deposited 26 Sep 2018 15:06)

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