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Kraphol, S., Ocelík, V., & Walenteck, D. M. (2021). The Instability of Globalization: Applying Evolutionary Game Theory to Global Trade Cooperation. Public Choice, 188, 31-51.
https://doi.org/10.1007/s11127-020-00799-1

has been cited by the following article:

• TITLE: Shapley Value and International Trade

  AUTHORS: Robert A. Agnew

  KEYWORDS: International Trade, Cooperative Game Theory, Shapley Value

  JOURNAL NAME: Theoretical Economics Letters, Vol.13 No.3, June 14, 2023

  ABSTRACT: International trade is modeled as a multinational cooperative game where Shapley value leads to fair distribution of total trade gains. This fair-trade solution entails side payments among trading nations, essentially international trade adjustment assistance. These Shapley side payments provide balance to the often contentious free-trade solution, which is essentially open-door and hands-off. We develop requisite calculations and illustrate them with a hypothetical four-nation trade game. We conclude that Shapley fair-trade estimates and calculations should be an integral part of any international trade negotiation.