Title

-Person Game and Endogenous Coalition Formation

Authors

Lin Zhou

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.

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