The Stationary Equilibrium of Three-Person Cooperative Games: A Classification
We present a classification of all stationary subgame perfect equilibria of the random proposer model for a three-person cooperative game according to the level of efficiency. The efficiency level is characterized by the number of "central" players who join all equilibrium coalitions. The existence of a central player guarantees asymptotic efficiency. The marginal contributions of players to the grand coalition play a critical role in their expected equilibrium payoffs.
|Date of creation:||Oct 2012|
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- Montero, M.P., 1999.
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- John F. Nash, 2008. "The Agencies Method For Modeling Coalitions And Cooperation In Games," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 10(04), pages 539-564.
- Okada, Akira, 2010. "The Nash bargaining solution in general n-person cooperative games," Journal of Economic Theory, Elsevier, vol. 145(6), pages 2356-2379, November.
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