A Simple 'Market Value' Bargaining Model for Weighted Voting Games: Characterization and Limit Theorems

G. Owen, I.D. Lindner, S.L. Feld, B. Grofman, L. Ray

    Research output: Contribution to JournalArticleAcademicpeer-review

    Abstract

    We offer a bargaining model for weighted voting games that is a close relative of the nucleolus and the kernel. We look for a set of weights that preserves winning coalitions that has the property of minimizing the difference between the weight of the smallest and the weight of the largest Minimum Winning Coalition. We claim that such a set of weights provides an a priori measure of a weighted voter’s bribeworthiness or market value. After introducing our model, we provide a characterization result for this model and show its links to other bargaining model approaches in the literature. Then we offer some limit results showing that, with certain reasonable conditions on the distributions of weights, as the size of the voting body increases, the values of bribeworthiness we calculate will approach both the weights themselves and the Banzhaf scores for the weighted voting game. We also show that, even for relatively small groups using weighted voting, such as the membership of the European Council of Ministers (and its predecessors) 1958–2003, similarities among the usual a priori power scores, bribeworthiness/market value, and the weights themselves, will be quite strong.
    Original languageEnglish
    Pages (from-to)111-128
    JournalInternational Journal of Game Theory
    Volume35
    Issue number1
    DOIs
    Publication statusPublished - 2006

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