Shapley value

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A process for determining a fair allocation in a cooperative game. The Shapley value is computed by first determining what each player adds to every possible coalition they may potentially join. The player is viewed as adding the difference between the pay-off to the coalition with the additional player and the pay-off to the coalition without. Second, the weighted sum of these pay-offs is computed with the weights being the probability that each coalition may form. The weighted sum is the Shapley value.

Subjects: Economics.

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