Shapley value

Lloyd Shapley in 2012

The Shapley value is a solution concept in cooperative game theory. It was named in honor of Lloyd Shapley, who introduced it in 1951 and won the Nobel Memorial Prize in Economic Sciences for it in 2012.[1][2] To each cooperative game it assigns a unique distribution (among the players) of a total surplus generated by the coalition of all players. The Shapley value is characterized by a collection of desirable properties. Hart (1989) provides a survey of the subject.[3][4]

  1. ^ Shapley, Lloyd S. (August 21, 1951). "Notes on the n-Person Game -- II: The Value of an n-Person Game" (PDF). Santa Monica, Calif.: RAND Corporation.
  2. ^ Roth, Alvin E., ed. (1988). The Shapley Value: Essays in Honor of Lloyd S. Shapley. Cambridge: Cambridge University Press. doi:10.1017/CBO9780511528446. ISBN 0-521-36177-X.
  3. ^ Hart, Sergiu (1989). "Shapley Value". In Eatwell, J.; Milgate, M.; Newman, P. (eds.). The New Palgrave: Game Theory. Norton. pp. 210–216. doi:10.1007/978-1-349-20181-5_25. ISBN 978-0-333-49537-7.
  4. ^ Hart, Sergiu (May 12, 2016). "A Bibliography of Cooperative Games: Value Theory".