Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
957150 | Journal of Economic Theory | 2006 | 13 Pages |
Abstract
We propose a new solution concept to address the problem of sharing a surplus among the agents generating it. The problem is formulated in the preferences-endowments space. The solution is defined recursively, incorporating notions of consistency and fairness and relying on properties satisfied by the Shapley value for transferable utility (TU)(TU) games. We show a solution exists, and call it the ordinal Shapley value (OSV)(OSV). We characterize the OSVOSV using the notion of coalitional dividends, and furthermore show it is monotone and anonymous.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
David Pérez-Castrillo, David Wettstein,