Template-Type: ReDIF-Paper 1.0
Series: Tinbergen Institute Discussion Papers
Creation-Date: 2021-12-01
Number: 21-104/II
Author-Name: Whenzong Li
Author-Workplace-Name: School of Mathematics and Statistics, Northwestern Polytechnical, Vrije Universiteit Amsterdam
Author-Name: Genjui Xu
Author-Workplace-Name: School of Mathematics and Statistics, Northwestern Polytechnical
Author-Name: Rene van den Brink
Author-Workplace-Name:Vrije Universiteit Amsterdam, Tinbergen Institute
Title: Sign Properties and Axiomatizations of the Weighted Division Value
Abstract: In this paper, we study axiomatic foundations of the class of weighted division values. Firstly, while keeping efficiency, additivity and the nullifying player property from the original axiomatization of the equal division value, we consider relaxations of symmetry in line with Casajus (2019) to characterize the class of (positively) weighted division values. Secondly, we show that the class of weighted division values can also be characterized by replacing linearity in three axiomatizations of Beal et al. (2016) with additivity. Finally, we show how strengthening an axiom regarding null, non-negative, respectively nullified players in these three axiomatizations, provides three axiomatizations of the class of positively weighted division values.
Classification-JEL: C71
Keywords: 
File-URL: https://papers.tinbergen.nl/21104.pdf
File-Format: application/pdf
File-Size: 412.641 bytes
Handle: RePEc:tin:wpaper:20210104