Holler, Manfred J.; Li, Xiaoguang From public good index to public value. An axiomatic approach and generalization. (English) Zbl 0844.90121 Control Cybern. 24, No. 3, 257-270 (1995). Summary: M. J. Holler [Pol. Studies 30, 262-271 (1982)] and M. J. Holler and E. W. Packel [Z. Nationalökonomie 43, No. 1, 21-29 (1983)] introduced the public good index and developed an axiomatization of it. In this paper, the public value, which measures the absolute power of a player in deciding on a public good whereas the public good index measures the relative power, is introduced through an alternative axiomatic approach for simple games. Using this axiomatic approach, the concept of the public value is further extended to general games. Then, two examples are given to illustrate the application of the public value to analyse the distribution of power among players in both simple and general games. Finally the feature of the public value and its relation to the public good index is discussed. Cited in 4 Documents MSC: 91A12 Cooperative games 91B18 Public goods 91B08 Individual preferences Keywords:\(HP\)-axiom; \(L\)-axiom; mergeability; public good index; public value; absolute power of a player; relative power; simple games PDFBibTeX XMLCite \textit{M. J. Holler} and \textit{X. Li}, Control Cybern. 24, No. 3, 257--270 (1995; Zbl 0844.90121)