Shapley ranking of wines

Ginsburgh, Victor;Zhang, Israël
(2012) Journal of Wine Economics — Vol. 7, n° 2, p. 169-180 (2012)

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  • Ginsburgh, VictorUniversité Libre de Bruxelles
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  • Zhang, IsraëlTel Aviv University
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Abstract
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 understandying 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.
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Ginsburgh, V., & Zhang, I. (2012). Shapley ranking of wines. Journal of Wine Economics, 7(2), 169-180. https://doi.org/10.1017/jwe.2012.35 (Original work published 2012)