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On the Stability of Cooperation Structures

In: ICM Millennium Lectures on Games

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  • Guillaume Haeringer

    (University of Warwick, Department of Economics)

Abstract

Summary This paper studies the payoff structure of stable cooperation structures in link formation games. Players choose non-cooperatively with whom they want to form a link, and the payoffs are given by the Myerson value of the cooperation structure obtained. We characterize the class of TU-games that ensure the stability of the full cooperation structure, which turns out to be much larger than the class of superadditive TU-games. We then provide an exact characterization of the Moderer and Shapley potential of the link formation game, and establish its equivalence with the potential as defined by Hart and Mas-Colell [13]. We use this result to show that stable but Pareto dominated graphs can emerge under simple best-response dynamics.

Suggested Citation

  • Guillaume Haeringer, 2003. "On the Stability of Cooperation Structures," Springer Books, in: Leon A. Petrosyan & David W. K. Yeung (ed.), ICM Millennium Lectures on Games, pages 167-183, Springer.
    • Handle: RePEc:spr:sprchp:978-3-662-05219-8_10
    DOI: 10.1007/978-3-662-05219-8_10
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