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Cooperative Games

In: Microeconomic Theory

Author

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  • Susheng Wang

    (Hong Kong University of Science and Technology)

Abstract

For a group of players, it is possible that they cooperate in some way to improve their individual welfare. They may find a need for cooperation on a common objective, but they may bargain over the sharing of benefits, just like the OPEC. They may form coalitions to cooperate within a coalition but compete between coalitions, just like political parties in practice. They may also seek third-party coordination, such as arbitration and government social programs.

Suggested Citation

  • Susheng Wang, 2018. "Cooperative Games," Springer Texts in Business and Economics, in: Microeconomic Theory, edition 4, chapter 0, pages 299-316, Springer.
    • Handle: RePEc:spr:sptchp:978-981-13-0041-7_9
    DOI: 10.1007/978-981-13-0041-7_9
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