On the Shapley value of liability games

• We propose a basis for the linear vector space of constant-sum games. The Shapley value in liability games satisfies order preservation. Liability monotonicity, asset and super-modularity also holds. Calculating is non-deterministic polynomial-time hard. In problem, an insolvent firm must be distributed among creditors itself, when has some freedom negotiating with creditors. model negotiations using cooperative game theory analyze to resolve such problems. establish three main monotonicity properties value. First, can only benefit from increase their claims or Second, claim but end up more less if increases, depending on configuration small large liabilities. Third, larger Even though are we show that calculated directly prove calculating payoff NP-hard.