Document Type
Discussion Paper
Publication Date
4-1-1991
CFDP Number
974
CFDP Pages
23
Abstract
The two most fundamental questions in cooperative game theory are: When a game is played, what coalitions will be formed and what payoff vectors will be chosen? No previous solution concepts or theories in the literature provide satisfactory answers to both questions; answers are especially lacking for the first one. In this paper we introduce the refined bargaining set, which is the first solution concept in cooperative game theory that simultaneously provides answers to both of the fundamental questions.
Recommended Citation
Zhou, Lin, "-Person Game and Endogenous Coalition Formation" (1991). Cowles Foundation Discussion Papers. 1217.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/1217