Into the Intro: The Shapley Value


Go Into the Intro of The Shapley Value

Welcome to Into the Intro, the series where we share snippets from the titles we're most excited about. This week we're honoring Lloyd S. Shapley and press author Alvin E. Roth, winners of The Nobel Prize For Economics 2012.


The following is an excerpt from Alvin E. Roth’s 2005 classic The Shapley Value: Essays in Honor of Lloyd S. Shapley.

Introduction to the Shapley Value

Among the obligations facing a community of scholars is to make accessible to a wider community the ideas it finds useful and important. A related obligation is to recognize lasting contributions to ideas and to honor their progenitors. In this volume we undertake to fill both obligations.

The papers in this volume review and continue research that has grown out of a remarkable 1953 paper by Lloyd Shapley. There he proposed that it might be possible to evaluate, in a numerical way, the “value” of playing a game.

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