Shapley Ranking of Wines*
نویسنده
چکیده
We suggest a new game-theory-based ranking method for wines, in which the Shapley Value of each wine is computed, and wines are ranked according to their Shapley Values. Judges should find it simpler to use, since they are not required to rank order or grade all the wines, but merely to choose the group of those that they find meritorious. Our ranking method is based on the set of reasonable axioms that determine the Shapley Value as the unique solution of an underlying cooperative game. Unlike in the general case, where computing the Shapley Value could be complex, here the Shapley Value and hence the final ranking, are straightforward to compute. (JEL Classification: C71, D71, D78)
منابع مشابه
Decomposition of the Share of Factors Affecting Environmental Pollution in Iran Using the Shapley-Owen Value Approach
Achieving economic growth and sustainable development with increasing the environmental quality are principal goals of the Iranian economy. Identifying and ranking factors affecting the pollution environment is the first step to reaching this goal. Due to the importance of the subject, the present study has decomposed the share of factors affecting environmental pollution in Iran during 1982-20...
متن کاملThe Ranking Problem of Alternatives as a Cooperative Game
This paper considers the ranking problem of candidates for a certain position based on ballot papers filled by voters. We suggest a ranking procedure of alternatives using cooperative game theory methods. For this, it is necessary to construct a characteristic function via the filled ballot paper profile of voters. The Shapley value serves as the ranking method. The winner is the candidate havi...
متن کاملRanking Sets of Possibly Interacting Objects Using Shapley Extensions
We deal with the problem of how to extend a preference relation over a set X of “objects” to the set of all subsets of X . This problem has been carried out in the tradition of the literature on extending an order on a set to its power set with the objective to analyze the axiomatic structure of families of rankings over subsets. In particular, most of these approaches make use of axioms aimed ...
متن کاملThe Shapley Value in the Knaster Gain Game
In Briata, Dall’Aglio and Fragnelli (2012), the authors introduce a cooperative game with transferable utility for allocating the gain of a collusion among completely risk-averse agents involved in the fair division procedure introduced by Knaster (1946). In this paper we analyze the Shapley value (Shapley, 1953) of the game and propose its use as a measure of the players’ attitude towards coll...
متن کاملAlternative Axiomatic Characterizations of the Grey Shapley Value
The Shapley value, one of the most common solution concepts of cooperative game theory is defined and axiomatically characterized in different game-theoretic models. Certainly, the Shapley value can be used in interesting sharing cost/reward problems in the Operations Research area such as connection, routing, scheduling, production and inventory situations. In this paper, we focus on the Shapl...
متن کامل