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A Recursive Value for n -Person Cooperative Games

Author

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  • Hannu Salonen

    (Department of Economics, University of Turku)

Abstract

Some 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.

Suggested Citation

  • Hannu Salonen, 2006. "A Recursive Value for n -Person Cooperative Games," Research Reports 116, University of Turku, Department of Economics.
    • Handle: RePEc:utu:wpaper:116
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    File URL: http://aws.tt.utu.fi/julkaisut/salonen2006.pdf
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    More about this item

    Keywords

    Shapley value; recursion;

    JEL classification:

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

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