Uncertainty Of The Shapley Value

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Uncertainty Of The Shapley Value

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VLADISLAV KARGIN () (Cornerstone Research and NYU, 599 Lexington Avenue, New York, NY 10022, USA)

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Vladislav Kargin

Abstract

This paper defines a measure of bargaining uncertainty that quantifies Roth's concept of strategic risk. It shows how this measure can be used for checking reliability of the Shapley value in cost allocation problems and in the theory of competitive equilibrium. Salient properties of the new measure are investigated and illustrated by examples of majority voting and market games and by a cost allocation problem from epidemiology.

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Publisher Info
Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.

Volume (Year): 07 (2005)
Issue (Month): 04 ()
Pages: 517-529
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Handle: RePEc:wsi:igtrxx:v:07:y:2005:i:04:p:517-529

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Paper
- Vladislav Kargin, 2003. "Uncertainty of the Shapley Value," Game Theory and Information 0309003, EconWPA. [Downloadable!]

Find related papers by JEL classification:
B4 - Schools of Economic Thought and Methodology - - Economic Methodology
C0 - Mathematical and Quantitative Methods - - General
C6 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
D5 - Microeconomics - - General Equilibrium and Disequilibrium
D7 - Microeconomics - - Analysis of Collective Decision-Making
M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Hart, Sergiu & Mas-Colell, Andreu, 1996. "Bargaining and Value," Econometrica, Econometric Society, vol. 64(2), pages 357-80, March. [Downloadable!] (restricted)
Other versions:
- Sergiu Hart & Andreu Mas-Colell, 1994. "Bargaining and Value," Economics Working Papers 114, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 1995. [Downloadable!]

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Stefano Moretti & Fioravante Patrone, 2008. "Transversality of the Shapley value," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer, vol. 16(1), pages 1-41, July. [Downloadable!] (restricted)

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