Concept information
Preferred term
owen value
Definition
- The Owen value (Ω) is a value for cooperative games in characteristic function form, based on a bargaining model that takes account of a priori unions in coalition formation. This value, proposed by Guillermo Owen, is generally understood as a modification of the Shapley value of a game for cases in which certain sets of players may be more likely to act together than others. [Source: Encyclopedia of Power; Owen Value]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/owen_value
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