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The equivalence of markets and games concerns the relationship between two sorts of structures that appear fundamentally different -- markets and games. Shapley and Shubik (1969) demonstrates that: (1) games derived from markets with concave utility functions generate totally balanced games...
Persistent link: https://www.econbiz.de/10009328147
equity) is formulated and analyzed. It is shown that this value depends significantly on the allocation of equity among the …
Persistent link: https://www.econbiz.de/10011273252
Attribution of economic joint effects is achieved with a random order model of their relative importance. Random order consistency and elementary axioms uniquely identify linear and proportional marginal attribution. These are the Shapley (1953) and proportional (Feldman (1999, 2002) and Ortmann...
Persistent link: https://www.econbiz.de/10005789768
the associated cost or resource allocation. In particular, the effectiveness of such collaborations can be hampered by the … lack of a consensus view on what basis should be used for gauging an allocation’s “fairness.” Standards of equity in …-sharing applications. Our analysis shows that features of the allocation environment are capable of explaining a substantial amount of the …
Persistent link: https://www.econbiz.de/10005835826
achieve all major policy goals. We apply results from the theory o f cooperative games a n d principles o f cost allocation to …
Persistent link: https://www.econbiz.de/10005260245
We define a partially consistent property for a solution of cooperative TU games, then use the consistent property to characterize the well-known Shapley value.
Persistent link: https://www.econbiz.de/10011107344
Using the censuses of 2000 and 2010, we have noticed that the inequality of the household per capita income in the biggest Brazilian cities did not show a trend of reduction, differently from the whole country. Also, the inequality in those cities is substantially higher than the Brazilian. We...
Persistent link: https://www.econbiz.de/10011107436
Using the censuses of 2000 and 2010, we have noticed that the inequality of the household per capita income in the biggest Brazilian cities did not show a trend of reduction, differently from the whole country. Also, the inequality in those cities is substantially higher than the Brazilian. We...
Persistent link: https://www.econbiz.de/10011107755
invariance of an allocation rule or invariance of the payoff assigned by an allocation rule to a specified subset of players in …
Persistent link: https://www.econbiz.de/10011109081
The prevalence of poverty in a given population is determined by both the level of average income and the shape of income distribution. Accordingly, the difference in poverty between two populations can be attributed to disparities in their average incomes and in the levels of income inequality....
Persistent link: https://www.econbiz.de/10011257921