TY - JOUR
T1 - Axiomatization of the Shapley value using the balanced cycle contributions property
AU - Kamijo, Yoshio
AU - Kongo, Takumi
PY - 2010
Y1 - 2010
N2 - This paper presents an axiomatization of the Shapley value. The balanced cycle contributions property is the key axiom in this paper. It requires that, for any order of all the players, the sum of the claims from each player against his predecessor is balanced with the sum of the claims from each player against his successor. This property is satisfied not only by the Shapley value but also by some other values for TU games. Hence, it is a less restrictive requirement than the balanced contributions property introduced by Myerson (International Journal of Game Theory 9, 169-182, 1980).
AB - This paper presents an axiomatization of the Shapley value. The balanced cycle contributions property is the key axiom in this paper. It requires that, for any order of all the players, the sum of the claims from each player against his predecessor is balanced with the sum of the claims from each player against his successor. This property is satisfied not only by the Shapley value but also by some other values for TU games. Hence, it is a less restrictive requirement than the balanced contributions property introduced by Myerson (International Journal of Game Theory 9, 169-182, 1980).
KW - Axiomatization
KW - Balanced cycle contributions property
KW - Shapley value
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U2 - 10.1007/s00182-009-0187-0
DO - 10.1007/s00182-009-0187-0
M3 - Article
AN - SCOPUS:77956964601
SN - 0020-7276
VL - 39
SP - 563
EP - 571
JO - International Journal of Game Theory
JF - International Journal of Game Theory
IS - 4
ER -