The Shapley Value as a von Neumann-Morgenstern Utility

Alvin Roth

Ekonomicheskaya Politika / Economic Policy, 2012, vol. 6, 9

Abstract: The Shapley value is shown to be avon Neumann-Morgenstern utility function. The concept of strategic risk is introduced, and it is shown that the Shapley value of agame equals its utility if and only if the underlying preferences are neutral to both ordinary and strategic risk.

Keywords: Shapley value; von Neumann-Morgenstern utility function; risk (search for similar items in EconPapers)
Date: 2012
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Related works:
Journal Article: The Shapley Value as a von Neumann-Morgenstern Utility (1977)
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