The Shapley Value for Partition Function Form Games
CentER Discussion Paper No. 2002-04
13 Pages Posted: 26 Mar 2011
Date Written: January 2002
Different axiomatic systems for the Shapley value can be found in the literature. For games with a coalition structure, the Shapley value also has been axiomatized in several ways. In this paper, we discuss a generalization of the Shapley value to the class of partition function form games. The concepts and axioms, related to the Shapley value, have been extended and a characterization for the Shapley value has been provided. Finally, an application of the Shapley value is given.
Keywords: partition function form game, coalition structure, Shapley value
JEL Classification: C71, C72
Suggested Citation: Suggested Citation