Econometrica Vol. 45 No. 3 1977
The Shapley Value as a von Neumann-Morgenstern Utility
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.
- DOI
- 10.2307/1911680
- Volume
- 45
- Issue
- 3
- Pages
- 657
- Sources
- bibtex:phds-export.bib openalex crossref