Weighted Aumann-Shapley pricing
type: Item
instance of: scholarly article
title: Weighted Aumann-Shapley pricing
zbMATH Open document ID: 0954.91020
author: Richard McLean
author: William W. Sharkey
published in: International Journal of Game Theory
publication date: 2000-04-11T00:00:00Z
review text: In a typical pricing problem, a decision maker must decide how to allocate the joint cost of production among several commodities using prices. These prices must satisfy certain reasonable postulates among which is the requirement that total revenue associated with these prices must cover total cost. The authors generalize Aumann-Shapley (AS) pricing to the so-called Weighted AS pricing. All axiomatizations of AS pricing are ``symmetric'', meaning that two commodities that ``affect'' total cost in the same way will have the same price. The Weighted AS pricing allows for different pricing of commodities in a situation like that. For a survey on AS pricing, see [\textit{Y. Tauman}, The Aumann-Shapley prices: A survey. In: Roth A. (ed.) The Shapley value: Essays in Honor of Lloyd Shapley, Cambridge University Press, Cambridge, 279-304 (1988; Zbl 0708.90009)].
reviewed by: Maxim V. Sokolov
Mathematics Subject Classification ID: 91B24
Mathematics Subject Classification ID: 91B32
Mathematics Subject Classification ID: 91A12
zbMATH DE Number: 1429826
zbMATH Keywords: Aumann-Shapley pricing
zbMATH Keywords: cost allocation
MaRDI profile type: Publication
full work available at URL: s001820050087
OpenAlex ID: W2054586186
DOI: 10.1007/S001820050087
description: scientific article; zbMATH DE number 1429826