The "value of the Game" as a Tool in Theoretical Economics

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Rand Corporation, 1967 - Game theory - 16 pages
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The 'value' is a solution concept for cooperative n-person games that gives for each player, an unbiased measure of his expected marginal worth to a coalition formed at random. In this paper, several games based on very simple economic models dealing with ownership, production, and exchange will be formulated and solved for their values. These examples have been selected (more for their methodology than their economics) from a dozen or so comparable economic games treated in recent papers.

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Contents

Section 1
3
Section 2
5
Section 3
8

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