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 payos 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 important subclasses of games, such as the class of simple games or the class of apex games.
|Place of Publication||Tilburg|
|Number of pages||27|
|Publication status||Published - 1999|
|Name||CentER Discussion Paper|
- Shapley value
- simple games