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2004•RePEc: Research Papers in EconomicsRequires access

The Shapley value for bicooperative games

J.M. Bilbao, J.R. Fernández, Nieves Jiménez, Jorge Jesús López

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Abstract

The aim of the present paper is to study a one-point solution concept for bicooperative games. For these games introduced by Bilbao (2000), we define a one-point solution called the Shapley value, since this value can be interpreted in a similar way to the classical Shapley value for cooperative games. The main result of the paper is an axiomatic characterization of this value.

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What this paper is about

The aim of the present paper is to study a one-point solution concept for bicooperative games. For these games introduced by Bilbao (2000), we define a one-point solution called the Shapley value, since this value can be interpreted in a similar way to the classical Shapley value for cooperative games. The main result of the paper is an axiomatic characterization of this value.

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Available abstract

The aim of the present paper is to study a one-point solution concept for bicooperative games. For these games introduced by Bilbao (2000), we define a one-point solution called the Shapley value, since this value can be interpreted in a similar way to the classical Shapley value for cooperative games. The main result of the paper is an axiomatic characterization of this value.

Key concepts: Shapley value, Axiom, Mathematical economics, Value (mathematics), Characterization (materials science), Point (geometry), Axiomatic system, Mathematics

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