The Shapley Value has been around for seven decades now. It is intuitive, tractable, and has many desirable properties. To my surprise, however, its actual applications in the real world are not readily available (as defined by a simple Google search). Most of the "applications" of the Shapley Value I could find are theoretical/hypothetical in nature. For example, the Investopedia entry lists the pricing of airport runway usage and marketing analytics as two applications without reference to actual real world cases.
My question is: Are there any real world applications of the Shapley Value in pricing transactions and/or allocating profits/costs among cooperating parties?
More specifically, I'm looking for answers in any of the following forms:
- "As documented in [news/professional/academic] Publication X, Company A used the Shapley Value (or its variant) to price its transaction with Company B and Company C."
- "As documented in [news/professional/academic] Publication X, Company A used the Shapley Value (or its variant) to allocate its [R&D/marketing/overhead] costs among its subsidiaries B, C and D."
- "The empirical study by Author et al. (20xx) in Publication X found that the profit/cost sharing practice within a [firm/industry/multinational enterprise] is consistent with the prediction of some model based on the Shapley Value."
- "The empirical study by Author et al. (20xx) in Publication X uses [a structural estimation/an empirical strategy] that is based on the Shapley Value."
Please do provide links/references to the sources. Thank you.
Note 1. While I'm primarily interested in the application of the Shapley Value in a business context, pointers to its use in other domains such as politics would also be appreciated.
Note 2. I found a paper by Littlechild and Thompson (1977) where the authors applied the Shapley Value in calculating the prices of airport runway usage based on actual data from the Birmingham Airport. It is unclear, however, whether those prices were subsequently adopted/implemented by the airport authorities.