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The Shapley valuation function for strategic games in which players cooperate

Author

Listed:
  • Luisa Carpente

    (Universidade da Coruna)

  • Ignacio Garcia-Jurado

    (Universidade de Santiago de Compostela)

  • Balbina Casas-Mendez

    (Universidade de Santiago de Compostela)

  • Anne van den Nouweland

    (University of Oregon)

Abstract

In this note we use the Shapley value to define a valuation function. A valuation function associates with every non-empty coalition of players in a strategic game a vector of payoffs for the members of the coalition that provides these playersÂ’ valuations of cooperating in the coalition. The Shapley valuation function is defined using the lowervalue based method to associate coalitional games with strategic games that was introduced in Carpente et al. (2003). We discuss axiomatic characterizations of the Shapley valuation function.

Suggested Citation

  • Luisa Carpente & Ignacio Garcia-Jurado & Balbina Casas-Mendez & Anne van den Nouweland, 2004. "The Shapley valuation function for strategic games in which players cooperate," University of Oregon Economics Department Working Papers 2004-3, University of Oregon Economics Department.
    • Handle: RePEc:ore:uoecwp:2004-3
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    File URL: http://economics.uoregon.edu/papers/UO-2004-3_Carpente_Shapley.pdf
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    More about this item

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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