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Variations on the shapley value

In: Handbook of Game Theory with Economic Applications

Author

Listed:
  • Monderer, Dov
  • Samet, Dov

Abstract

This survey captures the main contributions in the area described by the title that were published up to 1997. (Unfortunately, it does not capture all of them.) The variations that are the subject of this chapter are those axiomatically characterized solutions which are obtained by varying either the set of axioms that define the Shapley value, or the domain over which this value is defined, or both.In the first category, we deal mainly with probabilistic values. These are solutions that preserve one of the essential features of the Shapley value, namely, that they are given, for each player, by some averaging of the player's marginal contributions to coalitions, where the probabilistic weights depend on the coalitions only and not on the game. The Shapley value is the unique probabilistic value that is efficient and symmetric. We characterize and discuss two families of solutions: quasivalues, which are efficient probabilistic values, and semivalues, which are symmetric probabilistic values.In the second category, we deal with solutions that generalize the Shapley value by changing the domain over which the solution is defined. In such generalizations the solution is defined on pairs, consisting of a game and some structure on the set of players. The Shapley value is a special case of such a generalization in the sense that it coincides with the solution on the restricted domain in which the second argument is fixed to be the "trivial" one. Under this category we survey mostly solutions in which the structure is a partition of the set of the players, and a solution in which the structure is a graph, the vertices of which are the players.

Suggested Citation

  • Monderer, Dov & Samet, Dov, 2002. "Variations on the shapley value," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 3, chapter 54, pages 2055-2076, Elsevier.
  • Handle: RePEc:eee:gamchp:3-54
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    Cited by:

    1. Zaremba Leszek & Zaremba Cezary S. & Suchenek Marek, 2017. "Modification Of Shapley Value And Its Implementation In Decision Making," Foundations of Management, Sciendo, vol. 9(1), pages 257-272, October.
    2. Gustavo Bergantiños & Juan Vidal-Puga, 2005. "The Consistent Coalitional Value," Mathematics of Operations Research, INFORMS, vol. 30(4), pages 832-851, November.
    3. Ciftci, B.B. & Dimitrov, D.A., 2006. "Stable Coalition Structures in Simple Games with Veto Control," Discussion Paper 2006-114, Tilburg University, Center for Economic Research.
    4. von Schnurbein, Barbara, 2010. "The Core of an Extended Tree Game: A New Characterisation," Ruhr Economic Papers 212, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    5. Billot, Antoine & Thisse, Jacques-Francois, 2005. "How to share when context matters: The Mobius value as a generalized solution for cooperative games," Journal of Mathematical Economics, Elsevier, vol. 41(8), pages 1007-1029, December.
    6. Barbara von Schnurbein, 2010. "The Core of an Extended Tree Game: A New Characterisation," Ruhr Economic Papers 0212, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    7. Roberto Lucchetti & Paola Radrizzani & Emanuele Munarini, 2011. "A new family of regular semivalues and applications," International Journal of Game Theory, Springer;Game Theory Society, vol. 40(4), pages 655-675, November.
    8. Di Giannatale, Paolo & Passarelli, Francesco, 2018. "Integration contracts and asset complementarity: Theory and evidence from US data," International Journal of Industrial Organization, Elsevier, vol. 61(C), pages 192-222.
    9. Stefano Benati & Giuseppe Vittucci Marzetti, 2013. "Probabilistic spatial power indexes," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 40(2), pages 391-410, February.
    10. Jacob North Clark & Stephen Montgomery-Smith, 2018. "Shapley-like values without symmetry," Papers 1809.07747, arXiv.org, revised May 2019.
    11. Barış Çiftçi & Peter Borm & Herbert Hamers, 2010. "Population monotonic path schemes for simple games," Theory and Decision, Springer, vol. 69(2), pages 205-218, August.
    12. Giulia Bernardi & Josep Freixas, 2018. "The Shapley value analyzed under the Felsenthal and Machover bargaining model," Public Choice, Springer, vol. 176(3), pages 557-565, September.
    13. Xingwei Hu, 2020. "A theory of dichotomous valuation with applications to variable selection," Econometric Reviews, Taylor & Francis Journals, vol. 39(10), pages 1075-1099, November.
    14. Giulia Bernardi & Roberto Lucchetti, 2015. "Generating Semivalues via Unanimity Games," Journal of Optimization Theory and Applications, Springer, vol. 166(3), pages 1051-1062, September.
    15. Joseph Simonian, 2014. "Copula-opinion pooling with complex opinions," Quantitative Finance, Taylor & Francis Journals, vol. 14(6), pages 941-946, June.
    16. Kurz, Sascha & Maaser, Nicola & Napel, Stefan, 2018. "Fair representation and a linear Shapley rule," Games and Economic Behavior, Elsevier, vol. 108(C), pages 152-161.
    17. repec:zbw:rwirep:0212 is not listed on IDEAS
    18. Giulia Bernardi, 2018. "A New Axiomatization of the Banzhaf Index for Games with Abstention," Group Decision and Negotiation, Springer, vol. 27(1), pages 165-177, February.
    19. Maurice Koster & Sascha Kurz & Ines Lindner & Stefan Napel, 2017. "The prediction value," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 48(2), pages 433-460, February.
    20. Kamionko, V. & Marakulin, V., 2020. "Shapley's value and its axiomatization in games with prior probabilities of coalition formation," Journal of the New Economic Association, New Economic Association, vol. 46(2), pages 12-29.
    21. Karl Ortmann, 2013. "A cooperative value in a multiplicative model," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 21(3), pages 561-583, September.
    22. Barr, Jason & Passarelli, Francesco, 2009. "Who has the power in the EU?," Mathematical Social Sciences, Elsevier, vol. 57(3), pages 339-366, May.
    23. Luigi Montrucchio & Patrizia Semeraro, 2008. "Refinement Derivatives and Values of Games," Mathematics of Operations Research, INFORMS, vol. 33(1), pages 97-118, February.
    24. Xingwei Hu, 2018. "A Theory of Dichotomous Valuation with Applications to Variable Selection," Papers 1808.00131, arXiv.org, revised Mar 2020.

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    • C - Mathematical and Quantitative Methods

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