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A Note On The Computation Of The Shapley Value For Von Neumann–Morgenstern Market Games

Author

Listed:
  • VITO FRAGNELLI

    (Department of Advanced Sciences and Technologies, University of Eastern Piedmont, Viale T. Michel, 11, Alessandria, 15121, Italy)

  • ANA MECA

    (Operations Research Center and Department of Statistics, Mathematics and Computer Sciences, University Miguel Hernandez of Elche, Edificio Torretamarit, Avda. de la Universidad, Elche, 03202, Spain)

Abstract

We consider a von Neumann–Morgenstern market game and present a simple expression for the Shapley value via decomposition as the difference of an airport game and an extended airport game. The resulting formula has a useful interpretation for designing an allocation procedure among the agents.

Suggested Citation

  • Vito Fragnelli & Ana Meca, 2010. "A Note On The Computation Of The Shapley Value For Von Neumann–Morgenstern Market Games," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 12(03), pages 287-291.
    • Handle: RePEc:wsi:igtrxx:v:12:y:2010:i:03:n:s0219198910002684
    DOI: 10.1142/S0219198910002684
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    Cited by:

    1. Federica Briata & Andrea Dall’Aglio & Marco Dall’Aglio & Vito Fragnelli, 2017. "The Shapley value in the Knaster gain game," Annals of Operations Research, Springer, vol. 259(1), pages 1-19, December.

    More about this item

    Keywords

    Shapley value; market games; airport games; extended airport games; 91A12;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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