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Three little-known and yet still significant contributions of Lloyd Shapley

Jingang Zhao ()

Games and Economic Behavior, 2018, vol. 108, issue C, 592-599

Abstract: This paper makes three corrections in the literature by restating three little-known and yet still significant contributions of Lloyd Shapley: 1) Shapley (1955), not Gillies (1953, 1959), first defined the core solution; 2) Shapley (1956) first defined and studied the noncooperative solution in multiobjective games; and 3) Shapley (1987) revealed a fundamental error in existing noncooperative game theory.

Keywords: Core; Error in game theory; Multiobjective games; Shapley (search for similar items in EconPapers)
JEL-codes: C71 C72 D42 D79 (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:eee:gamebe:v:108:y:2018:i:c:p:592-599