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The Shapley value as the maximizer of expected Nash welfare

Author

Listed:
  • Anirban Kar
  • Arunava Sen

Abstract

We provide an alternative interpretation of the Shapley value in TU games as the unique maximizer of expected Nash welfare. Copyright Springer-Verlag Berlin Heidelberg 2014

Suggested Citation

  • Anirban Kar & Arunava Sen, 2014. "The Shapley value as the maximizer of expected Nash welfare," International Journal of Game Theory, Springer;Game Theory Society, vol. 43(3), pages 619-627, August.
    • Handle: RePEc:spr:jogath:v:43:y:2014:i:3:p:619-627
    DOI: 10.1007/s00182-013-0398-2
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    References listed on IDEAS

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    1. Evans, Robert A., 1996. "Value, Consistency, and Random Coalition Formation," Games and Economic Behavior, Elsevier, vol. 12(1), pages 68-80, January.
    2. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
    3. Ruiz, Luis M. & Valenciano, Federico & Zarzuelo, Jose M., 1998. "The Family of Least Square Values for Transferable Utility Games," Games and Economic Behavior, Elsevier, vol. 24(1-2), pages 109-130, July.
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    More about this item

    Keywords

    Shapley value; Nash bargaining solution; Maximizing expected Nash welfare; C71; C78;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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