Consider the simple majority game with one large party consisting of 1/3 of the votes and three equal-sized smaller parties with 2/9 of the votes each. Find the Shapley value of the large party.
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The Shapley value is a solution concept in cooperative game theory that distributes the total gains to the players based on their contribution to the total payoff. It considers all possible coalitions and how the payoff changes when a player joins a coalition. Show more…
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