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Tag Archives: Shapley value
Nobel awarded to Roth and Shapley: Personal nostalgia
Today, the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2012” was awarded to Alvin E. Roth and Lloyd S. Shapley “for the theory of stable allocations and the practice of market design”. As always when the Nobel is decided, I realize that I should not be one giving out the prize. Along with many, I try to make clever predictions, which always fail. On the other hand, when the prize is being awarded, I almost always find that the choice is obvious and natural. This year is no exception. I will spare you for my failed prediction(s), but applaud this year’s choice. Roth and Shapley … Continue reading
Posted in Economic Sciences, Economists
Tagged Alvin Roth, coalition power, Lloyd Shapley, Nobel Prize, power indices, Shapley value, Shapley-Shubik index
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