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Values for strategic games in which players cooperate

Author

Listed:
  • Luisa Carpente

    (Universidade da Coruna)

  • Ignacio Garcia-Jurado

    (Universidade de Santiago de Compostela)

  • Balbina Casas-Mendez

    (Universidade de Santiago de Compostela)

  • Anne van den Nouweland

    (University of Oregon)

Abstract

In this paper we propose a new method to associate a coalitional game with each strategic game. The method is based on the lower value of matrix games. We axiomatically characterize this new method, as well as the method that was described in von Neumann and Morgenstern (1944). As an intermediate step, we provide some axiomatic characterizations of the value and the lower value of matrix games.

Suggested Citation

  • Luisa Carpente & Ignacio Garcia-Jurado & Balbina Casas-Mendez & Anne van den Nouweland, 2003. "Values for strategic games in which players cooperate," University of Oregon Economics Department Working Papers 2003-5, University of Oregon Economics Department.
  • Handle: RePEc:ore:uoecwp:2003-5
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    File URL: http://economics.uoregon.edu/papers/UO-2003-5_Carpente_Values_Games_Cooperate.pdf
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    More about this item

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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