A Recursive Value for n -Person Cooperative Games
AbstractSome solution concepts for n -person games admit a recursive definition. In such a recursion, the solution of an n -person game is computed by using the knowledge of how some of the proper subgames of a given game have been solved. While these kind of recursion formulas are of course computational devices, they can also help us to understand the bargaining processes behind various solution concepts. Two recursion formulas leading to the Shapley value are studied in more detail.
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Bibliographic InfoPaper provided by University of Turku, Department of Economics in its series Research Reports with number 116.
Length: 16 pages
Date of creation: Mar 2006
Date of revision:
Shapley value; recursion;
Find related papers by JEL classification:
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
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