Values of Large Games, V

An 18-Person Market Game

Lloyd S. Shapley

ResearchPublished 1961

Part of a continuing effort to extend applications of n-person game theory. This memorandum applies the principles of modern game theory to a set of imaginary horse-market transactions described in Bohm-Bawerk's Positive Theory of Capital (1891). Value solutions are obtained by Monte Carlo techniques for this 18-person market game and for a 16-person variant.

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Shapley, Lloyd S., Values of Large Games, V: An 18-Person Market Game. Santa Monica, CA: RAND Corporation, 1961. https://www.rand.org/pubs/research_memoranda/RM2860.html.
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