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The Cooperative Solution of Stochastic Games

Author

Listed:
  • Elon Kohlberg
  • Abraham Neyman

Abstract

Building on the work of Nash, Harsanyi, and Shapley, we define a cooperative solution for strategic games that takes account of both the competitive and the cooperative aspects of such games. We prove existence in the general (NTU) case and uniqueness in the TU case. Our main result is an extension of the definition and the existence and uniqueness theorems to stochastic games - discounted or undiscounted.

Suggested Citation

  • Elon Kohlberg & Abraham Neyman, 2015. "The Cooperative Solution of Stochastic Games," Discussion Paper Series dp679, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
    • Handle: RePEc:huj:dispap:dp679
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    File URL: http://ratio.huji.ac.il/sites/default/files/publications/dp679.pdf
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    References listed on IDEAS

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    1. Mertens,Jean-François & Sorin,Sylvain & Zamir,Shmuel, 2015. "Repeated Games," Cambridge Books, Cambridge University Press, number 9781107662636, January.
      • Mertens,Jean-François & Sorin,Sylvain & Zamir,Shmuel, 2015. "Repeated Games," Cambridge Books, Cambridge University Press, number 9781107030206, November.
    2. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
    3. Roth, Alvin E, 1980. "Values for Games without Sidepayments: Some Difficulties with Current Concepts," Econometrica, Econometric Society, vol. 48(2), pages 457-465, March.
    4. Aumann, Robert J, 1985. "An Axiomatization of the Non-transferable Utility Value," Econometrica, Econometric Society, vol. 53(3), pages 599-612, May.
    5. Truman Bewley & Elon Kohlberg, 1976. "The Asymptotic Theory of Stochastic Games," Mathematics of Operations Research, INFORMS, vol. 1(3), pages 197-208, August.
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    Cited by:

    1. Elena M. Parilina & Alessandro Tampieri, 2018. "Stability and cooperative solution in stochastic games," Theory and Decision, Springer, vol. 84(4), pages 601-625, June.

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