Shapley Values And Their Application Inside And Outside Of Economics
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Shapley Values And Their Application Inside And Outside Of Economics
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Author :
language : en
Publisher: GRIN Verlag
Release Date : 2023-01-18
Shapley Values And Their Application Inside And Outside Of Economics written by and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-01-18 with Business & Economics categories.
Bachelor Thesis from the year 2022 in the subject Business economics - Business Management, Corporate Governance, grade: 1.15, Technical University of Ilmenau, language: English, abstract: The Shapley Value is a famous solution concept of cooperative Game Theory which aims at allocating a jointly generated payoff to the contributing members under fair circumstances. It represents a unique solution to a set of predefined fairness axioms which favoured its employment in many applications and scientific literature over the years. The resulting vast amount of literature is mainly focused on applying the Shapley Value in various areas, which created a discrepancy between the advancements in practical solutions and review sources which capture a holistic overview of possible application areas. The objectives of this literature review were therefore to firstly identify application areas, then highlight the respective employment and current advancements by integrating literature sources in a second step in order to discuss the usefulness in regard to popular non-game theoretic methods at the end. Methodically, a literature review was accomplished which utilized multiple databases and search-engines to find Shapley Value-related literature, which was used to categorize application areas. From there on, keyword- and forward/backward searches were executed for every identified application area to further enrich the literature basis. In total, 168 unique studies contributed to this review which revealed that Shapley Values are employed in Profit and Cost allocation, Marketing, Machine Learning, Politics, Portfolio and Social Network Theory and in Statistics. As this review also assessed the current and future relevance of individual application areas, it was projected that a majority of the here presented applications will be of value in the future.
The Shapley Value
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Author : Alvin E. Roth
language : en
Publisher: Cambridge University Press
Release Date : 1988-10-28
The Shapley Value written by Alvin E. Roth and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-10-28 with Business & Economics categories.
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.
Economics Advances In Research And Application 2012 Edition
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Author :
language : en
Publisher: ScholarlyEditions
Release Date : 2012-12-26
Economics Advances In Research And Application 2012 Edition written by and has been published by ScholarlyEditions this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-26 with Business & Economics categories.
Economics—Advances in Research and Application: 2012 Edition is a ScholarlyEditions™ eBook that delivers timely, authoritative, and comprehensive information about Economics. The editors have built Economics—Advances in Research and Application: 2012 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Economics in this eBook to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Economics—Advances in Research and Application: 2012 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.
Subgame Consistent Economic Optimization
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Author : David W.K. Yeung
language : en
Publisher: Springer Science & Business Media
Release Date : 2011-12-07
Subgame Consistent Economic Optimization written by David W.K. Yeung and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-07 with Mathematics categories.
Various imperfections in existing market systems prevent the free market from serving as a truly efficient allocation mechanism, but optimization of economic activities provides an effective remedial measure. Cooperative optimization claims that socially optimal and individually rational solutions to decision problems involving strategic action over time exist. To ensure that cooperation will last throughout the agreement period, however, the stringent condition of subgame consistency is required. This textbook presents a study of subgame consistent economic optimization, developing game-theoretic optimization techniques to establish the foundation for an effective policy menu to tackle the suboptimal behavior that the conventional market mechanism fails to resolve.
Game Theoretical Applications To Economics And Operations Research
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Author : T. Parthasarathy
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-06-29
Game Theoretical Applications To Economics And Operations Research written by T. Parthasarathy and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-06-29 with Business & Economics categories.
Game Theoretical Applications to Economics and Operations Research deals with various aspects of game theory and their applications to Economics and OR related problems. It brings together the contributions of a wide spectrum of disciplines such as Statistics, Mathematics, Mathematical Economics and OR. The contributions include decision theory, stochastic games, cooperative and noncooperative games. The papers in the volume are classified under five different sections. The first four sections are devoted to the theory of two-person games, linear complimentarity problems and game theory, cooperative and noncooperative games. The fifth section contains diverse applications of these various theories. Taken together they exhibit a rich versatility of these theories and lively interaction between the mathematical theory of games and significant economic problems.
The Routledge Handbook Of The Philosophy Of Economics
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Author : Conrad Heilmann
language : en
Publisher: Taylor & Francis
Release Date : 2021-11-29
The Routledge Handbook Of The Philosophy Of Economics written by Conrad Heilmann and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-29 with Philosophy categories.
The most fundamental questions of economics are often philosophical in nature, and philosophers have, since the very beginning of Western philosophy, asked many questions that current observers would identify as economic. The Routledge Handbook of Philosophy of Economics is an outstanding reference source for the key topics, problems, and debates at the intersection of philosophical and economic inquiry. It captures this field of countless exciting interconnections, affinities, and opportunities for cross-fertilization. Comprising 35 chapters by a diverse team of contributors from all over the globe, the Handbook is divided into eight sections: I. Rationality II. Cooperation and Interaction III. Methodology IV. Values V. Causality and Explanation VI. Experimentation and Simulation VII. Evidence VIII. Policy The volume is essential reading for students and researchers in economics and philosophy who are interested in exploring the interconnections between the two disciplines. It is also a valuable resource for those in related fields like political science, sociology, and the humanities.
Handbook Of The Shapley Value
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Author : Encarnación Algaba
language : en
Publisher: CRC Press
Release Date : 2019-12-06
Handbook Of The Shapley Value written by Encarnación Algaba and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-06 with Business & Economics categories.
Handbook of the Shapley Value contains 24 chapters and a foreword written by Alvin E. Roth, who was awarded the Nobel Memorial Prize in Economic Sciences jointly with Lloyd Shapley in 2012. The purpose of the book is to highlight a range of relevant insights into the Shapley value. Every chapter has been written to honor Lloyd Shapley, who introduced this fascinating value in 1953. The first chapter, by William Thomson, places the Shapley value in the broader context of the theory of cooperative games, and briefly introduces each of the individual contributions to the volume. This is followed by a further contribution from the editors of the volume, which serves to introduce the more significant features of the Shapley value. The rest of the chapters in the book deal with different theoretical or applied aspects inspired by this interesting value and have been contributed specifically for this volume by leading experts in the area of Game Theory. Chapters 3 through to 10 are more focused on theoretical aspects of the Shapley value, Chapters 11 to 15 are related to both theoretical and applied areas. Finally, from Chapter 16 to Chapter 24, more attention is paid to applications of the Shapley value to different problems encountered across a diverse range of fields. As expressed by William Thomson in the Introduction to the book, "The chapters contribute to the subject in several dimensions: Mathematical foundations; axiomatic foundations; computations; applications to special classes of games; power indices; applications to enriched classes of games; applications to concretely specified allocation problems: an ever-widening range, mapping allocation problems into games or implementation." Nowadays, the Shapley value continues to be as appealing as when it was first introduced in 1953, or perhaps even more so now that its potential is supported by the quantity and quality of the available results. This volume collects a large amount of work that definitively demonstrates that the Shapley value provides answers and solutions to a wide variety of problems.
Agricultural Biodiversity And Biotechnology In Economic Development
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Author : Joseph Cooper
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-05-27
Agricultural Biodiversity And Biotechnology In Economic Development written by Joseph Cooper and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-05-27 with Business & Economics categories.
This volume summarizes the current state of knowledge in the economic literature of management of agricultural biotechnology and biodiversity in agricultural and economic development. It identifies key issues confronting policy makers in managing biodiversity and biotechnology and provides a broad, multi-disciplinary analysis of the linkage between the two. It is especially innovative in its use of plant genetic resource management as the basis for is analysis.
The New Palgrave Dictionary Of Economics
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Author :
language : en
Publisher: Springer
Release Date : 2016-05-18
The New Palgrave Dictionary Of Economics written by and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-18 with Law categories.
The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Games Economic Dynamics And Time Series Analysis
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Author : XY. Deistler
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-12-14
Games Economic Dynamics And Time Series Analysis written by XY. Deistler and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-14 with Business & Economics categories.