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The shapley value

In: Handbook of Game Theory with Economic Applications

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  • Winter, Eyal

Abstract

This chapter surveys some of the literature in game theory that has emerged from Shapley's seminal paper on the Value. The survey includes both contributions which offer different interpretations of the Shapley value as well as several different ways to characterize the value axiomatically. The chapter also surveys some of the literature that generalizes the notion of the value to situations in which a priori cooperation structure exists, as well as a different literature that discusses the relation between the Shapley value and models of non-cooperative bargaining. The chapter concludes with a discussion of the applied side of the Shapley value, primarily in the context of cost allocation and voting.

Suggested Citation

  • Winter, Eyal, 2002. "The shapley value," Handbook of Game Theory with Economic Applications,in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 3, chapter 53, pages 2025-2054 Elsevier.
  • Handle: RePEc:eee:gamchp:3-53
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    Cited by:

    1. Kar, Anirban & Mitra, Manipushpak & Mutuswami, Suresh, 2009. "On the coincidence of the prenucleolus and the Shapley value," Mathematical Social Sciences, Elsevier, vol. 57(1), pages 16-25, January.
    2. Di Giannatale, Paolo & Passarelli, Francesco, 2013. "Voting chances instead of voting weights," Mathematical Social Sciences, Elsevier, vol. 65(3), pages 164-173.
    3. Wulf, Jochen & Limbach, Felix & Zarnekow, Rüdiger, 2010. "Analysis of QoS Platform Cooperation Strategies," 21st European Regional ITS Conference, Copenhagen 2010: Telecommunications at new crossroads - Changing value configurations, user roles, and regulation 39, International Telecommunications Society (ITS).
    4. Ginsburgh, Victor & Moreno-Ternero, Juan D. & Weber, Shlomo, 2017. "Ranking languages in the European Union: Before and after Brexit," European Economic Review, Elsevier, vol. 93(C), pages 139-151.
    5. Harald Wiese, 2012. "Values with exogenous payments," Theory and Decision, Springer, vol. 72(4), pages 485-508, April.
    6. Barr, Jason & Passarelli, Francesco, 2009. "Who has the power in the EU?," Mathematical Social Sciences, Elsevier, vol. 57(3), pages 339-366, May.
    7. Roberto Burguet & Ramon Caminal, 2010. "Simultaneous Nash Bargaining with Consistent Beliefs," UFAE and IAE Working Papers 854.10, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    8. Karpov, Alexander, 2014. "Equal weights coauthorship sharing and the Shapley value are equivalent," Journal of Informetrics, Elsevier, vol. 8(1), pages 71-76.
    9. Kirman, Alan & Markose, Sheri & Giansante, Simone & Pin, Paolo, 2007. "Marginal contribution, reciprocity and equity in segregated groups: Bounded rationality and self-organization in social networks," Journal of Economic Dynamics and Control, Elsevier, vol. 31(6), pages 2085-2107, June.
    10. Justin Yifu Lin, 2007. "Development and Transition : Idea, Strategy, and Viability," Development Economics Working Papers 22709, East Asian Bureau of Economic Research.
    11. Flores, Robert J. & Shaffer, Brendan P. & Brouwer, Jacob, 2016. "Electricity costs for an electric vehicle fueling station with Level 3 charging," Applied Energy, Elsevier, vol. 169(C), pages 813-830.
    12. Ray, Debraj & Vohra, Rajiv, 2015. "Coalition Formation," Handbook of Game Theory with Economic Applications, Elsevier.
    13. Flores, Robert J. & Shaffer, Brendan P. & Brouwer, Jacob, 2017. "Electricity costs for a Level 3 electric vehicle fueling station integrated with a building," Applied Energy, Elsevier, vol. 191(C), pages 367-384.

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    JEL classification:

    • C - Mathematical and Quantitative Methods

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