The Shapley value is an a priori
evaluation of the prospects of a player in a
multi-person game. Introduced by Lloyd S. Shapley in 1953, it has become a
central solution concept in cooperative game theory. The Shapley value has
been applied to economic, political, and other models.
Revision of an article
which originally appeared in The New Palgrave: A
Dictionary of Economics, 1987,
J. Eatwell, M. Milgate and P. Newman (editors),
Macmillan Press, Vol. 4, 318-320.
The New Palgrave: A Dictionary of Economics, 2nd Edition,
Steven N. Durlauf and Lawrence E. Blume (editors), Palgrave Macmillan,
- The New Palgrave Dictionary of Economics Online, 2009
- Game Theory, Steven N. Durlauf and
Lawrence E. Blume (editors),
Palgrave Macmillan, 2009