Shapley Value In A Model Of Information Transferal
In this paper we analyze the value of the information in a cooperative model. There is an agent (the innovator), having relevant information which can be sold to some potential buyers. The n potential users of the information share a market. The expected utility of each of them can be improved by obtaining the information. The whole situation is modelled as a (n + 1)–person cooperative game.We study the properties of the characteristic function of this game. It fulfills a weak version of the superadditivity property, namely 0-monotonicity. The game is proved to be monotonic.We compute the Shapley value and we prove it is an imputation for the game. We compare the Shapley value with the equilibrium studied in a noncooperative model by Quintas (1995). We also study some limit cases when the potential buyers are completely informed or uninformed. It includes Big Boss Games (Muto et al. (1988)) and other limit cases.We conclude that in a cooperative environment the buyers avoid being exploited by the innovator. Conversely the innovator obtains a higher utility in a noncooperative game.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 12 (2010)
Issue (Month): 01 ()
|Contact details of provider:|| Web page: http://www.worldscinet.com/igtr/igtr.shtml|
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:wsi:igtrxx:v:12:y:2010:i:01:p:19-35. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Tai Tone Lim)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.