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Cooperative Game Models

In: Game Theory

Author

Listed:
  • Hans Peters

    (Maastricht University)

Abstract

The common features of a cooperative game model—such as the model of a game with transferable utility in Chap. 9 —include: the abstraction from a detailed description of the strategic possibilities of a player; instead, a detailed description of what players and coalitions can attain in terms of outcomes or utilities; solution concepts based on strategic considerations and/or considerations of fairness, equity, efficiency, etc.; if possible, an axiomatic characterization of such solution concepts. For instance, one can argue that the core for TU-games is based on strategic considerations whereas the Shapley value is based on a combination of efficiency and symmetry or fairness with respect to contributions. The latter is made precise by an axiomatic characterization as in Problem 9.17.

Suggested Citation

  • Hans Peters, 2015. "Cooperative Game Models," Springer Texts in Business and Economics, in: Game Theory, edition 2, chapter 10, pages 171-191, Springer.
    • Handle: RePEc:spr:sptchp:978-3-662-46950-7_10
    DOI: 10.1007/978-3-662-46950-7_10
    as

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