Null players, outside options, and stability: The conditional Shapley value

André Casajus and Pierfrancesco La Mura

Journal of Mathematical Economics, 2024, vol. 110, issue C

Abstract: We suggest a new component efficient solution for monotonic TU games with a coalition structure, the conditional Shapley value. In contrast to other such solutions, it satisfies the null player property. Nevertheless, it accounts for the players’ outside options in productive components of coalition structures. For all monotonic games, there exist coalition structures that are stable under the conditional Shapley value. For voting games, such stable coalition structures support Gamson’s theory of coalition formation (Gamson, 1961).

Keywords: TU game; Shapley value; Outside options; Null player; Stability; Gamson’s law (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:110:y:2024:i:c:s0304406823001246

DOI: 10.1016/j.jmateco.2023.102931

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