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Three little-known and yet still significant contributions of Lloyd Shapley

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  • Zhao, Jingang

Abstract

This paper makes three corrections in the literature by restating three little-known and yet still significant contributions of Lloyd Shapley: 1) Shapley (1955), not Gillies (1953, 1959), first defined the core solution; 2) Shapley (1956) first defined and studied the noncooperative solution in multiobjective games; and 3) Shapley (1987) revealed a fundamental error in existing noncooperative game theory.

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  • Zhao, Jingang, 2018. "Three little-known and yet still significant contributions of Lloyd Shapley," Games and Economic Behavior, Elsevier, vol. 108(C), pages 592-599.
    • Handle: RePEc:eee:gamebe:v:108:y:2018:i:c:p:592-599
    DOI: 10.1016/j.geb.2017.05.002
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    2. Yasuo Sasaki, 2019. "Rationalizability in multicriteria games," International Journal of Game Theory, Springer;Game Theory Society, vol. 48(2), pages 673-685, June.
    3. Bouchery, Yann & Hezarkhani, Behzad & Stauffer, Gautier, 2022. "Coalition formation and cost sharing for truck platooning," Transportation Research Part B: Methodological, Elsevier, vol. 165(C), pages 15-34.
    4. Crettez, Bertrand & Nessah, Rabia, 2020. "On the existence of unilateral support equilibrium," Mathematical Social Sciences, Elsevier, vol. 105(C), pages 41-47.
    5. Sasaki, Yasuo, 2022. "Unawareness of decision criteria in multicriteria games," Mathematical Social Sciences, Elsevier, vol. 119(C), pages 31-40.
    6. Algaba, Encarnación & Béal, Sylvain & Fragnelli, Vito & Llorca, Natividad & Sánchez-Soriano, Joaquin, 2019. "Relationship between labeled network games and other cooperative games arising from attributes situations," Economics Letters, Elsevier, vol. 185(C).
    7. Nizar Allouch & A. Meca & K. Polotskaya, 2021. "The Bonacich Shapley centrality," Studies in Economics 2106, School of Economics, University of Kent.
    8. Encarnaciön Algaba & Sylvain Béal & Vito Fragnelli & Natividad Llorca & Joaquin Sänchez-Soriano, 2019. "Relationship between labeled network games and museum pass games," Working Papers 2019-02, CRESE.
    9. Bahel, Eric & Trudeau, Christian, 2019. "A cost sharing example in which subsidies are necessary for stability," Economics Letters, Elsevier, vol. 185(C).
    10. Pierre Dehez, 2024. "Cooperative Product Games," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 26(01), pages 1-13, March.
    11. Georgios Gerasimou, 2019. "Dominance-solvable multicriteria games with incomplete preferences," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(2), pages 165-171, December.
    12. Jingang Zhao, 2018. "A Reexamination of the Coase Theorem," The Journal of Mechanism and Institution Design, Society for the Promotion of Mechanism and Institution Design, University of York, vol. 3(1), pages 111-132, December.
    13. Hezarkhani, Behzad & Slikker, Marco & Van Woensel, Tom, 2019. "Gain-sharing in urban consolidation centers," European Journal of Operational Research, Elsevier, vol. 279(2), pages 380-392.
    14. Jaeok Park, 2019. "Decision Making and Games with Vector Outcomes," Working papers 2019rwp-146, Yonsei University, Yonsei Economics Research Institute.

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    More about this item

    Keywords

    Core; Error in game theory; Multiobjective games; Shapley;
    All these keywords.

    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
    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • D79 - Microeconomics - - Analysis of Collective Decision-Making - - - Other

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