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Cooperative Games in Strategic Form

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Author Info
Sergiu Hart
Andreu Mas-Colell ()

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Abstract

In this paper we view bargaining and cooperation as an interaction superimposed on a strategic form game. A multistage bargaining procedure for N players, the “proposer commitment” procedure, is presented. It is inspired by Nash’s two-player variable-threat model; a key feature is the commitment to “threats.” We establish links to classical cooperative game theory solutions, such as the Shapley value in the transferable utility case. However, we show that even in standard pure exchange economies the traditional coalitional function may not be adequate when utilities are not transferable.

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Publisher Info
Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 1094.

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Date of creation: May 2008
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Handle: RePEc:upf:upfgen:1094

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Related research
Keywords: Bargaining; Commitment; Nash variable threat;

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Find related papers by JEL classification:
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
D5 - Microeconomics - - General Equilibrium and Disequilibrium
D7 - Microeconomics - - Analysis of Collective Decision-Making

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  1. Binmore, Ken & Osborne, Martin J. & Rubinstein, Ariel, 1992. "Noncooperative models of bargaining," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 7, pages 179-225 Elsevier. [Downloadable!] (restricted)
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  2. Macho-Stadler, Ines & Perez-Castrillo, David & Wettstein, David, 2007. "Sharing the surplus: An extension of the Shapley value for environments with externalities," Journal of Economic Theory, Elsevier, vol. 135(1), pages 339-356, July. [Downloadable!] (restricted)
  3. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April. [Downloadable!] (restricted)
  4. Sergiu Hart, 2004. "A comparison of non-transferable utility values," Theory and Decision, Springer, vol. 56(1), pages 35-46, April. [Downloadable!] (restricted)
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  5. Maschler, M & Owen, G, 1989. "The Consistent Shapley Value for Hyperplane Games," International Journal of Game Theory, Springer, vol. 18(4), pages 389-407.
  6. Geoffroy de Clippel & Roberto Serrano, 2005. "Marginal Contributions and Externalities in the Value," Working Papers 2005-11, Brown University, Department of Economics. [Downloadable!]
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  7. Hart, S. & Mas-Colell, A., 1993. "Harsanyi Values of Large Economies: Non Equivalence to Competitive Equilibria," Harvard Institute of Economic Research Working Papers 9, Harvard - Institute of Economic Research.
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  8. Hart, Sergiu & Mas-Colell, Andreu, 1996. "Bargaining and Value," Econometrica, Econometric Society, vol. 64(2), pages 357-80, March. [Downloadable!] (restricted)
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  9. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April. [Downloadable!] (restricted)
  10. Postlewaite, Andrew, 1979. "Manipulation via Endowments," Review of Economic Studies, Blackwell Publishing, vol. 46(2), pages 255-62, April. [Downloadable!] (restricted)
  11. Herbert E. Scarf, 1970. "On the Existence of a Cooperative Solution for a General Class of N-Person Games," Cowles Foundation Discussion Papers 293, Cowles Foundation, Yale University. [Downloadable!]
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