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Cooperative Games in Strategic Form

  • Sergiu Hart

    ()

  • Andreu Mas-Colell

    ()

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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Paper provided by The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem in its series Discussion Paper Series with number dp484.

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Date of creation: May 2008
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Publication status: Published in Journal of the European Economic Association 8 (2010), 1, 7-33
Handle: RePEc:huj:dispap:dp484
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  1. Martin J. Osborne & Ariel Rubinstein, 2005. "Bargaining and Markets," Levine's Bibliography 666156000000000515, UCLA Department of Economics.
  2. Binmore, K. & Osborne, M.J. & Rubinstein, A., 1989. "Noncooperative Models Of Bargaining," Papers 89-26, Michigan - Center for Research on Economic & Social Theory.
  3. 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.
  4. Geoffroy de Clippel & Roberto Serrano, 2005. "Marginal Contributions And Externalities In The Value," Economics Working Papers we057339, Universidad Carlos III, Departamento de Economía.
  5. Martin J. Osborne & Ariel Rubinstein, 1994. "A Course in Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650401, June.
  6. Scarf, Herbert E., 1971. "On the existence of a coopertive solution for a general class of N-person games," Journal of Economic Theory, Elsevier, vol. 3(2), pages 169-181, June.
  7. Maschler, M & Owen, G, 1989. "The Consistent Shapley Value for Hyperplane Games," International Journal of Game Theory, Springer, vol. 18(4), pages 389-407.
  8. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  9. Postlewaite, Andrew, 1979. "Manipulation via Endowments," Review of Economic Studies, Wiley Blackwell, vol. 46(2), pages 255-62, April.
  10. Hart, Sergiu & Mas-Colell, Andreu, 1996. "Bargaining and Value," Econometrica, Econometric Society, vol. 64(2), pages 357-80, March.
  11. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
  12. 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.
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