Shapley Values And Their Application Inside And Outside Of Economics

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Shapley Values and their Application Inside and Outside of Economics

Author :
Publisher : GRIN Verlag
ISBN 13 : 3346796175
Total Pages : 105 pages
Book Rating : 4.3/5 (467 download)

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Book Synopsis Shapley Values and their Application Inside and Outside of Economics by :

Download or read book Shapley Values and their Application Inside and Outside of Economics written by and published by GRIN Verlag. This book was released on 2023-01-18 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2022 in the subject Business economics - Business Management, Corporate Governance, grade: 1.15, Technical University of Ilmenau, language: English, abstract: The Shapley Value is a famous solution concept of cooperative Game Theory which aims at allocating a jointly generated payoff to the contributing members under fair circumstances. It represents a unique solution to a set of predefined fairness axioms which favoured its employment in many applications and scientific literature over the years. The resulting vast amount of literature is mainly focused on applying the Shapley Value in various areas, which created a discrepancy between the advancements in practical solutions and review sources which capture a holistic overview of possible application areas. The objectives of this literature review were therefore to firstly identify application areas, then highlight the respective employment and current advancements by integrating literature sources in a second step in order to discuss the usefulness in regard to popular non-game theoretic methods at the end. Methodically, a literature review was accomplished which utilized multiple databases and search-engines to find Shapley Value-related literature, which was used to categorize application areas. From there on, keyword- and forward/backward searches were executed for every identified application area to further enrich the literature basis. In total, 168 unique studies contributed to this review which revealed that Shapley Values are employed in Profit and Cost allocation, Marketing, Machine Learning, Politics, Portfolio and Social Network Theory and in Statistics. As this review also assessed the current and future relevance of individual application areas, it was projected that a majority of the here presented applications will be of value in the future.

The Shapley Value

Author : Alvin E. Roth
Publisher : Cambridge University Press
ISBN 13 : 1107717213
Total Pages : 342 pages
Book Rating : 4.1/5 (77 download)

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Book Synopsis The Shapley Value by : Alvin E. Roth

Download or read book The Shapley Value written by Alvin E. Roth and published by Cambridge University Press. This book was released on 1988-10-28 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Composed in honour of the sixty-fifth birthday of Lloyd Shapley, this volume makes accessible the large body of work that has grown out of Shapley's seminal 1953 paper. Each of the twenty essays concerns some aspect of the Shapley value. Three of the chapters are reprints of the 'ancestral' papers: Chapter 2 is Shapley's original 1953 paper defining the value; Chapter 3 is the 1954 paper by Shapley and Shubik applying the value to voting models; and chapter 19 is Shapley's 1969 paper defining a value for games without transferable utility. The other seventeen chapters were contributed especially for this volume. The first chapter introduces the subject and the other essays in the volume, and contains a brief account of a few of Shapley's other major contributions to game theory. The other chapters cover the reformulations, interpretations and generalizations that have been inspired by the Shapley value, and its applications to the study of coalition formulation, to the organization of large markets, to problems of cost allocation, and to the study of games in which utility is not transferable.

Handbook of the Shapley Value

Author : Encarnación Algaba
Publisher : CRC Press
ISBN 13 : 1351241400
Total Pages : 607 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis Handbook of the Shapley Value by : Encarnación Algaba

Download or read book Handbook of the Shapley Value written by Encarnación Algaba and published by CRC Press. This book was released on 2019-12-06 with total page 607 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of the Shapley Value contains 24 chapters and a foreword written by Alvin E. Roth, who was awarded the Nobel Memorial Prize in Economic Sciences jointly with Lloyd Shapley in 2012. The purpose of the book is to highlight a range of relevant insights into the Shapley value. Every chapter has been written to honor Lloyd Shapley, who introduced this fascinating value in 1953. The first chapter, by William Thomson, places the Shapley value in the broader context of the theory of cooperative games, and briefly introduces each of the individual contributions to the volume. This is followed by a further contribution from the editors of the volume, which serves to introduce the more significant features of the Shapley value. The rest of the chapters in the book deal with different theoretical or applied aspects inspired by this interesting value and have been contributed specifically for this volume by leading experts in the area of Game Theory. Chapters 3 through to 10 are more focused on theoretical aspects of the Shapley value, Chapters 11 to 15 are related to both theoretical and applied areas. Finally, from Chapter 16 to Chapter 24, more attention is paid to applications of the Shapley value to different problems encountered across a diverse range of fields. As expressed by William Thomson in the Introduction to the book, "The chapters contribute to the subject in several dimensions: Mathematical foundations; axiomatic foundations; computations; applications to special classes of games; power indices; applications to enriched classes of games; applications to concretely specified allocation problems: an ever-widening range, mapping allocation problems into games or implementation." Nowadays, the Shapley value continues to be as appealing as when it was first introduced in 1953, or perhaps even more so now that its potential is supported by the quantity and quality of the available results. This volume collects a large amount of work that definitively demonstrates that the Shapley value provides answers and solutions to a wide variety of problems.

Mathematical Economics and Game Theory

Author : R. Henn
Publisher : Springer Science & Business Media
ISBN 13 : 3642454941
Total Pages : 714 pages
Book Rating : 4.6/5 (424 download)

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Book Synopsis Mathematical Economics and Game Theory by : R. Henn

Download or read book Mathematical Economics and Game Theory written by R. Henn and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 714 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Game Theory

Author : John Eatwell
Publisher : Springer
ISBN 13 : 1349201812
Total Pages : 275 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis Game Theory by : John Eatwell

Download or read book Game Theory written by John Eatwell and published by Springer. This book was released on 1989-09-01 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. It concentrates on the topic of game theory.

Economics—Advances in Research and Application: 2012 Edition

Author :
Publisher : ScholarlyEditions
ISBN 13 : 1464990735
Total Pages : 1468 pages
Book Rating : 4.4/5 (649 download)

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Book Synopsis Economics—Advances in Research and Application: 2012 Edition by :

Download or read book Economics—Advances in Research and Application: 2012 Edition written by and published by ScholarlyEditions. This book was released on 2012-12-26 with total page 1468 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics—Advances in Research and Application: 2012 Edition is a ScholarlyEditions™ eBook that delivers timely, authoritative, and comprehensive information about Economics. The editors have built Economics—Advances in Research and Application: 2012 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Economics in this eBook to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Economics—Advances in Research and Application: 2012 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.

The AI Book

Author : Ivana Bartoletti
Publisher : John Wiley & Sons
ISBN 13 : 1119551900
Total Pages : 304 pages
Book Rating : 4.1/5 (195 download)

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Book Synopsis The AI Book by : Ivana Bartoletti

Download or read book The AI Book written by Ivana Bartoletti and published by John Wiley & Sons. This book was released on 2020-06-29 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by prominent thought leaders in the global fintech space, The AI Book aggregates diverse expertise into a single, informative volume and explains what artifical intelligence really means and how it can be used across financial services today. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes: · Understanding the AI Portfolio: from machine learning to chatbots, to natural language processing (NLP); a deep dive into the Machine Intelligence Landscape; essentials on core technologies, rethinking enterprise, rethinking industries, rethinking humans; quantum computing and next-generation AI · AI experimentation and embedded usage, and the change in business model, value proposition, organisation, customer and co-worker experiences in today’s Financial Services Industry · The future state of financial services and capital markets – what’s next for the real-world implementation of AITech? · The innovating customer – users are not waiting for the financial services industry to work out how AI can re-shape their sector, profitability and competitiveness · Boardroom issues created and magnified by AI trends, including conduct, regulation & oversight in an algo-driven world, cybersecurity, diversity & inclusion, data privacy, the ‘unbundled corporation’ & the future of work, social responsibility, sustainability, and the new leadership imperatives · Ethical considerations of deploying Al solutions and why explainable Al is so important

Game and Economic Theory

Author : Sergiu Hart
Publisher : University of Michigan Press
ISBN 13 : 9780472106738
Total Pages : 478 pages
Book Rating : 4.1/5 (67 download)

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Book Synopsis Game and Economic Theory by : Sergiu Hart

Download or read book Game and Economic Theory written by Sergiu Hart and published by University of Michigan Press. This book was released on 1995 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: Outstanding works showing the application of game theory to economic theory.

The Oxford Handbook of Economic Conflict Resolution

Author : Gary E. Bolton
Publisher : Oxford University Press
ISBN 13 : 0199995990
Total Pages : 432 pages
Book Rating : 4.1/5 (999 download)

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Book Synopsis The Oxford Handbook of Economic Conflict Resolution by : Gary E. Bolton

Download or read book The Oxford Handbook of Economic Conflict Resolution written by Gary E. Bolton and published by Oxford University Press. This book was released on 2012-09-20 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: Individuals, groups, and societies all experience conflict, and attempt to resolve it in numerous ways. This Handbook brings together scholars from multiple disciplines to offer perspectives on the current state and future challenges in negotiation and conflict resolution. It will serve as an aid to scholars in identifying new research topics, provide a guide to current debates, and identify complementarities between approaches taken by different disciplines and the insights which those approaches generate. Leading researchers of economics, psychology, organizational behavior, policy, and other fields have contributed chapters. The volume is organized to purposefully juxtapose contributions from different fields to enable cross-fertilization between the disciplines and to generate new and creative approaches to studying the topic. These chapters provide a lens into current scholarship, and a window into the future of the field of economic conflict resolution. The confluence of research perspectives represented will identify further synergies and advances in our understanding of this topic.

Game Theory and Its Applications

Author : William F. Lucas
Publisher : American Mathematical Soc.
ISBN 13 : 0821800256
Total Pages : 135 pages
Book Rating : 4.8/5 (218 download)

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Book Synopsis Game Theory and Its Applications by : William F. Lucas

Download or read book Game Theory and Its Applications written by William F. Lucas and published by American Mathematical Soc.. This book was released on 1981 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The media today, and especially the national press, are frequently in conflict with people in the public eye, particularly politicians and celebrities, over the disclosure of private information and behaviour. Historically, journalists have argued that 'naming and shaming' serious wrong-doing and behaviour on the part of public officials is justified as being in the public interest. However, when the media spotlight is shone on perfectly legal personal behaviour, family issues and sexual orientation, and when, in particular, this involves ordinary people, the question arises of whether such matters are really in the 'public interest' in any meaningful sense of the term. In this book, leading academics, commentators and journalists from a variety of different cultures, consider the extent to which the media are entitled to reveal details of people's private lives, the laws and regulations which govern such revelations, and whether these are still relevant in the age of social media."--Publisher's website.

Value Creation in Management Accounting and Strategic Management

Author : Satoshi Sugahara
Publisher : John Wiley & Sons
ISBN 13 : 1119467063
Total Pages : 143 pages
Book Rating : 4.1/5 (194 download)

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Book Synopsis Value Creation in Management Accounting and Strategic Management by : Satoshi Sugahara

Download or read book Value Creation in Management Accounting and Strategic Management written by Satoshi Sugahara and published by John Wiley & Sons. This book was released on 2017-09-25 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores two combined approaches (strategy and accounting) from a cross-disciplinary perspective in order to improve knowledge of value creation in various contexts. Existing studies on this topic have generally adopted a purely account-based or strategy-oriented approach to address this issue. However, this book draws upon a number of well-defined theoretical and empirical backgrounds and methodologies. Since the 1980s, many changes have occurred and companies have increasingly focused their strategies on value creation. Consequently, new strategic directions have emerged, especially for managerial accounting. Management accounting and alignment with strategy could thus improve performance. This book encourages further thought and reflection on these issues which should be pursued in the future as firms face new challenges associated with the acceleration of digital transformation.

Data Science for Economics and Finance

Author : Sergio Consoli
Publisher : Springer Nature
ISBN 13 : 3030668916
Total Pages : 357 pages
Book Rating : 4.0/5 (36 download)

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Book Synopsis Data Science for Economics and Finance by : Sergio Consoli

Download or read book Data Science for Economics and Finance written by Sergio Consoli and published by Springer Nature. This book was released on 2021 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book covers the use of data science, including advanced machine learning, big data analytics, Semantic Web technologies, natural language processing, social media analysis, time series analysis, among others, for applications in economics and finance. In addition, it shows some successful applications of advanced data science solutions used to extract new knowledge from data in order to improve economic forecasting models. The book starts with an introduction on the use of data science technologies in economics and finance and is followed by thirteen chapters showing success stories of the application of specific data science methodologies, touching on particular topics related to novel big data sources and technologies for economic analysis (e.g. social media and news); big data models leveraging on supervised/unsupervised (deep) machine learning; natural language processing to build economic and financial indicators; and forecasting and nowcasting of economic variables through time series analysis. This book is relevant to all stakeholders involved in digital and data-intensive research in economics and finance, helping them to understand the main opportunities and challenges, become familiar with the latest methodological findings, and learn how to use and evaluate the performances of novel tools and frameworks. It primarily targets data scientists and business analysts exploiting data science technologies, and it will also be a useful resource to research students in disciplines and courses related to these topics. Overall, readers will learn modern and effective data science solutions to create tangible innovations for economic and financial applications.

Assets, Beliefs, and Equilibria in Economic Dynamics

Author : Charalambos D. Aliprantis
Publisher : Springer Science & Business Media
ISBN 13 : 3662058588
Total Pages : 733 pages
Book Rating : 4.6/5 (62 download)

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Book Synopsis Assets, Beliefs, and Equilibria in Economic Dynamics by : Charalambos D. Aliprantis

Download or read book Assets, Beliefs, and Equilibria in Economic Dynamics written by Charalambos D. Aliprantis and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 733 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of papers dealing with a broad range of topics in mathematical economics, game theory and economic dynamics. The contributions present both theoretical and applied research. The volume is dedicated to Mordecai Kurz. The papers were presented in a special symposium co-hosted by the Stanford University Department of Economics and by the Stanford Institute of Economic Policy Research in August 2002.

Advanced Microeconomics for Contract, Institutional, and Organizational Economics

Author : W. Bentley MacLeod
Publisher : MIT Press
ISBN 13 : 0262046873
Total Pages : 417 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Advanced Microeconomics for Contract, Institutional, and Organizational Economics by : W. Bentley MacLeod

Download or read book Advanced Microeconomics for Contract, Institutional, and Organizational Economics written by W. Bentley MacLeod and published by MIT Press. This book was released on 2022-04-05 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: A graduate textbook on microeconomics, covering decision theory, game theory, and the foundations of contract theory, with a unique focus on the empirical. This graduate-level text on microeconomics, covering such topics as decision theory, game theory, bargaining theory, contract theory, trade under asymmetric information, and relational contract theory, is unique in its emphasis on the interplay between theory and evidence. It reviews the microeconomic theory of exchange “from the ground up,” aiming to produce a set of models and hypotheses amenable to empirical exploration, with particular focus on models that are useful for the study of contracts, institutions, and organizations. It explores research that extends price theory to the exchange of commodities when markets are incomplete, discussing recent developments in the field. Topics covered include the relationship between theory and evidence; decision theory as it is used in contract theory and institutional design; game theory; axiomatic and strategic bargaining theory; agency theory and the class of models that are considered to constitute contract theory, with discussions of moral hazard and trade with asymmetric information; and the theory of relational contracts. The final chapter offers a nontechnical review that provides a guide to which model is the most appropriate for a particular application. End-of-chapter exercises help students expand their understanding of the material, and an appendix provides brief introduction to optimization theory and the welfare theorem of general equilibrium theory. Students are assumed to be familiar with general equilibrium theory and basic constrained optimization theory.

Encyclopedia of Applied Ethics

Author :
Publisher : Academic Press
ISBN 13 : 0123739322
Total Pages : 3467 pages
Book Rating : 4.1/5 (237 download)

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Book Synopsis Encyclopedia of Applied Ethics by :

Download or read book Encyclopedia of Applied Ethics written by and published by Academic Press. This book was released on 2012-01-10 with total page 3467 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Encyclopedia of Applied Ethics, Second Edition, Four Volume Set addresses both the physiological and the psychological aspects of human behavior. Carefully crafted, well written, and thoroughly indexed, the encyclopedia helps users - whether they are students just beginning formal study of the broad field or specialists in a branch of psychology - understand the field and how and why humans behave as we do. The work is an all-encompassing reference providing a comprehensive and definitive review of the field. A broad and inclusive table of contents ensures detailed investigation of historical and theoretical material as well as in-depth analysis of current issues. Several disciplines may be involved in applied ethics: one branch of applied ethics, for example, bioethics, is commonly explicated in terms of ethical, legal, social, and philosophical issues. Editor-in-Chief Ruth Chadwick has put together a group of leading contributors ranging from philosophers to practitioners in the particular fields in question, to academics from disciplines such as law and economics. The 376 chapters are divided into 4 volumes, each chapter falling into a subject category including Applied Ethics; Bioethics; Computers and Information Management; Economics/Business; Environmental Ethics; Ethics and Politics; Legal; Medical Ethics; Philosophy/Theories; Social; and Social/Media. Concise entries (ten pages on average) provide foundational knowledge of the field Each article will features suggested readings pointing readers to additional sources for more information, a list of related websites, a 5-10 word glossary and a definition paragraph, and cross-references to related articles in the encyclopedia Newly expanded editorial board and a host of international contributors from the US, Australia, Belgium, Canada, France, Germany, Ireland, Israel, Japan, Sweden, and the United Kingdom The 376 chapters are divided into 4 volumes, each chapter falling into a subject category including Applied Ethics; Bioethics; Computers and Information Management; Economics/Business; Environmental Ethics; Ethics and Politics; Legal; Medical Ethics; Philosophy/Theories; Social; and Social/Media

Welfare Economics

Author : Roger A. McCain
Publisher : Routledge
ISBN 13 : 1134864388
Total Pages : 234 pages
Book Rating : 4.1/5 (348 download)

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Book Synopsis Welfare Economics by : Roger A. McCain

Download or read book Welfare Economics written by Roger A. McCain and published by Routledge. This book was released on 2019-05-09 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although it was an important specialization in economics in the mid-twentieth century, welfare economics has received less attention in the twenty-first century. This book explores the history of welfare economics, with a view to explaining its rise and subsequent decline. Drawing on both philosophy and economics, this book offers a new and original perspective on the history of welfare economics, starting with Pigou and charting the trajectory of applied and theoretical welfare economics throughout the twentieth century. This book will be of interest to students and researchers of philosophy, economics and history of economic thought.

Firms in the International Economy

Author : Sjoerd Beugelsdijk
Publisher : MIT Press
ISBN 13 : 0262314487
Total Pages : 441 pages
Book Rating : 4.2/5 (623 download)

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Book Synopsis Firms in the International Economy by : Sjoerd Beugelsdijk

Download or read book Firms in the International Economy written by Sjoerd Beugelsdijk and published by MIT Press. This book was released on 2013-12-13 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays by leading scholars suggest that insights from international business could enrich firm heterogeneity research in international economics. Despite their common roots, international economics (IE) and international business (IB) have developed into two distinct fields of study. Economists have directed their efforts at formalizing the workings of international trade and investment at the macroeconomic level; business scholars have relied more on data-driven conceptual narratives than mathematical tools. But the recent focus of IE literature on firm heterogeneity suggests that IE would benefit from IB analyses of the behavior and organization of the internationalizing firm. The contributions to this volume investigate ways that insights from IB can enrich IE research in firm heterogeneity. The contributors discuss firm-specific advantages in international trade and investment, considering the firm as the unit of analysis and managerial inputs as a variable in market entry decisions; analyze interactions between a firm and its external environment, including local corporate philanthropy and institutional settings; examine the boundaries of the firm and organizational choices such as the make-or-buy decision; and investigate technology transfer and innovation offshoring, discussing the role of subsidiaries, inventor employment, and other related topics. Although IE and IB look at international firms from different perspectives, these contributions make it clear that there is a potential for a productive exchange of insights and information between the two disciplines. Contributors Laura Abramovsky, Carlo Altomonte, Sjoerd Beugelsdijk, Bruce Blonigen, Pamela Bombarda, Steven Brakman, Julia Darby, Rodolphe Desbordes, Filippo Di Mauro, María García-Vega, Harry Garretsen, Elena Huergo, Florian Mayneris, Quyen T. K. Nguyen, Verena Nowak, Cheyney O'Fallon, Gianmarco Ottaviano, Michael Pflüger, Filomena Pietrovito, Sandra Poncet, Alberto Franco Pozzolo, Alan M. Rugman, Armando Rungi, Stephan Russek, Davide Sala, Luca Salvatici, Christian Schwarz, Roger Smeets, Jens Suedekum, Hans van Ees, Vincent Vicard, Ian Wooton, Erdal Yalcin