The Shapley Valuation Function for Strategic Games in which Players Cooperate
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- Carpente, L., Casas-Méndez, B., García-Jurado, I. et al. Math Meth Oper Res (2006) 63: 435. doi:10.1007/s00186-005-0028-2
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In this note we use the Shapley value to define a valuation function. A valuation function associates with every non-empty coalition of players in a strategic game a vector of payoffs for the members of the coalition that provides these players’ valuations of cooperating in the coalition. The Shapley valuation function is defined using the lower-value based method to associate coalitional games with strategic games that was introduced in Carpente et al. (2005). We discuss axiomatic characterizations of the Shapley valuation function.