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Application of Stochastic Cooperative Games in the Analysis of the Interaction of Economic Agents

In: Business Challenges in the Changing Economic Landscape - Vol. 1

Author

Listed:
  • Pavel V. Konyukhovskiy

    (St-Petersburg State University)

  • Alexandra S. Malova

    (St-Petersburg State University)

Abstract

This article deals with the development of the theory of stochastic cooperative games. The authors deliberate on the possibilities for the future directions and practical applications of this class of games. The principal feature of the proposed approach to the study of stochastic cooperative games is that it is based on the definition of the imputation as a vector, providing the conditions of individual and group rationality with (given) probability α. It differs from previous approaches that consider the imputation in stochastic cooperative games as fixed proportions, according to which the full utility of the coalition, which as a random variable, is distributed among its members. The approach, proposed by the authors of this article, introduces the concept of α to the core of the game (core with probability α), and a number of problems that can be formulated with respect to the properties of this object.

Suggested Citation

  • Pavel V. Konyukhovskiy & Alexandra S. Malova, 2016. "Application of Stochastic Cooperative Games in the Analysis of the Interaction of Economic Agents," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Business Challenges in the Changing Economic Landscape - Vol. 1, edition 1, pages 355-367, Springer.
    • Handle: RePEc:spr:eurchp:978-3-319-22596-8_25
    DOI: 10.1007/978-3-319-22596-8_25
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