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Second-order productivity, second-order payoffs, and the Shapley value

  • We show that the Shapley value is the unique efficient one-point solution for cooperative games with transferable utility that reflects the players‘ second-order productivities in terms of their second-order payoffs. Second-order productivities are conceptualized as second-order marginal contributions, that is, how one player affects another player‘s marginal contributions to coalitions containing neither of them by entering these coalitions. Second-order payoffs are conceptualized as the effect of one player leaving the game on the payoff of another player.

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Document Type:Working Paper
Author:André CasajusORCiD
Chairs and Professorships:Chair of Economics and Information Systems
Full text/ URN:urn:nbn:de:101:1-2020122213304306648128
Parent Title (English):HHL Working Paper
Series (Serial Number):HHL-Arbeitspapier / HHL Working paper (187)
Year of Completion:2020
Page Number:19
Content Focus:Academic Audience
Licence (German):License LogoUrheberrechtlich geschützt