THE 'VALUE OF THE GAME' AS A TOOL IN THEORETICAL ECONOMICS

Abstract

The 'value' is a solution concept for cooperative n-person games that gives for each player, an unbiased measure of his expected marginal worth to a coalition formed at random. In this paper, several games based on very simple economic models dealing with ownership, production, and exchange will be formulated and solved for their values. These examples have been selected (more for their methodology than their economics) from a dozen or so comparable economic games treated in recent papers.

Open PDF

Document Details

Document Type
Technical Report
Publication Date
Aug 01, 1967
Accession Number
AD0658427

Entities

People

  • Lloyd Shapley

Organizations

  • RAND Corporation

Tags

Communities of Interest

  • Materials and Manufacturing Processes

DTIC Thesaurus Topics

  • Boundaries
  • Commerce
  • Competition
  • Corporations
  • Difference Equations
  • Economic Models
  • Economics
  • Efficiency
  • Equations
  • Models
  • Probability
  • Production
  • Production Models
  • Productivity
  • Random Variables
  • Symmetry

Fields of Study

  • Economics

Readers

  • Game Theory.
  • Life Cycle Cost Analysis
  • Regression Analysis.