Shapley Value
The Shapley Value is a solution concept for coalition games that distributes total payoff fairly among players based on their marginal contributions to coalitions. Introduced by Lloyd Shapley in 1953, the Shapley Value is the unique payoff distribution that satisfies four intuitive axioms: efficiency (total payoff is distributed), symmetry (identical players receive equal payoff), null player (players contributing nothing receive nothing), and additivity across games.
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- Shapley, L. S. (1953). A value for n-person games. In H. W. Kuhn & A. W. Tucker (Eds.), Contributions to the Theory of Games II (pp. 307-317). Princeton University Press. · DOI 10.1515/9781400881970-018
- Roth, A. E. (1988). The Shapley value as a von Neumann-Morgenstern utility. Econometrica, 56(4), 745-794. · URL
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