On Three Shapley-Like Solutions for Cooperative Games with Random Payoffs

Center for Economic Research No. 2000-73

21 Pages Posted: 10 Oct 2000

See all articles by Judith Timmer

Judith Timmer

University of Twente - Department of Applied Mathematics

Peter Borm

Tilburg University - Center for Economic Research (CentER); Tilburg University - Department of Econometrics & Operations Research

Stef H. Tijs

Tilburg University - Center For Economic Research; Tilburg University - Department of Econometrics & Operations Research; Università degli Studi di Genova - Dipartimento di Matematica

Date Written: 2000

Abstract

Three solution concepts for cooperative games with random payoffs are introduced. These are the marginal value, the dividend value and the selector value. Inspiration for their definitions comes from several equivalent formulations of the Shapley value for cooperative TU games. An example shows that these solutionscan all be different for cooperative games with random payoffs. Properties are studied and two characterizations on subclasses of games are provided.

Keywords: cooperative games, random variables, Shapley values

JEL Classification: C71

Suggested Citation

Timmer, Judith and Borm, Peter E. M. and Tijs, Stef H., On Three Shapley-Like Solutions for Cooperative Games with Random Payoffs (2000). Center for Economic Research No. 2000-73, Available at SSRN: https://ssrn.com/abstract=244669 or http://dx.doi.org/10.2139/ssrn.244669

Judith Timmer (Contact Author)

University of Twente - Department of Applied Mathematics ( email )

P.O. Box 217
7500 AE Enschede
Netherlands

Peter E. M. Borm

Tilburg University - Center for Economic Research (CentER) ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

Tilburg University - Department of Econometrics & Operations Research

Tilburg, 5000 LE
Netherlands

Stef H. Tijs

Tilburg University - Center For Economic Research ( email )

P.O. Box 90153
B925
5000 LE Tilburg
Netherlands
+31 13 466 2348 (Phone)

Tilburg University - Department of Econometrics & Operations Research ( email )

Tilburg, 5000 LE
Netherlands

Università degli Studi di Genova - Dipartimento di Matematica

Via Dodecaneso 35
16146 Genoa
Italy

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