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

reportActive / Technical Report | Accession Number: AD0658427 | Open PDF

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.

Author(s):
Shapley, L. S.
Author Organization(s):
RAND CORP SANTA MONICA CA
Supplementary Note:
Prepared for presentation at the Inst. of Management Sciences International Meetings (14th), Mexico City (Mexico), 22-26 Aug 1967.
Pagination:
0017

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution:
Approved For Public Release
Distribution Statement:
Approved For Public Release; Distribution Is Unlimited.

RECORD

Collection: TR
Identifying Numbers
Report Number(s):
P-3658
Monitor Series:
XD
 Subject Terms
Joint Capability Areas:
JCA_5_Command and Control; JCA_5.1.1_Establish and Maintain Unity of Effort with Mission Partners; JCA_5.1_Organize; JCA_1_Force Support
Communities of Interest:
Materials and Manufacturing Processes
Descriptor(s):
*ECONOMICS, *GAME THEORY, *MEASURE THEORY, *PROBABILITY, APPROXIMATION(MATHEMATICS), DIFFERENCE EQUATIONS, INEQUALITIES, LABOR, MANAGEMENT ENGINEERING, MONEY, RANDOM VARIABLES, SALARIES
Field(s)/Group(s):
Economics and Cost Analysis, Statistics and Probability
Report Date:
1967 Aug 01