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The Shapley Value

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  • Roth,Alvin E.

Abstract

Composed in honour of the sixty-fifth birthday of Lloyd Shapley, this volume makes accessible the large body of work that has grown out of Shapley's seminal 1953 paper. Each of the twenty essays concerns some aspect of the Shapley value. Three of the chapters are reprints of the 'ancestral' papers: Chapter 2 is Shapley's original 1953 paper defining the value; Chapter 3 is the 1954 paper by Shapley and Shubik applying the value to voting models; and chapter 19 is Shapley's 1969 paper defining a value for games without transferable utility. The other seventeen chapters were contributed especially for this volume. The first chapter introduces the subject and the other essays in the volume, and contains a brief account of a few of Shapley's other major contributions to game theory. The other chapters cover the reformulations, interpretations and generalizations that have been inspired by the Shapley value, and its applications to the study of coalition formulation, to the organization of large markets, to problems of cost allocation, and to the study of games in which utility is not transferable.

Suggested Citation

  • Roth,Alvin E. (ed.), 2005. "The Shapley Value," Cambridge Books, Cambridge University Press, number 9780521021333, October.
    • Handle: RePEc:cup:cbooks:9780521021333
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    Cited by:

    1. Zaremba Leszek & Zaremba Cezary S. & Suchenek Marek, 2017. "Modification of Shapley Value and its Implementation in Decision Making," Foundations of Management, Sciendo, vol. 9(1), pages 257-272, October.
    2. Anne Layne-Farrar & A. Jorge Padilla & Richard Schmalensee, 2007. "Pricing Patents for Licensing in Standard Setting Organizations: Making Sense of FRAND Commitments," Working Papers wp2007_0702, CEMFI.
    3. David Pérez-Castrillo & David Wettstein, 2005. "Implementation of the Ordinal Shapley Value for a three-agent economy," Economics Bulletin, AccessEcon, vol. 3(48), pages 1-8.

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