Application of Stochastic Cooperative Games in the Analysis of the Interaction of Economic Agents

Pavel V. Konyukhovskiy () and Alexandra S. Malova ()
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Pavel V. Konyukhovskiy: St-Petersburg State University
Alexandra S. Malova: St-Petersburg State University

A chapter in Business Challenges in the Changing Economic Landscape - Vol. 1, 2016, pp 355-367 from Springer

Abstract: Abstract This article deals with the development of the theory of stochastic cooperative games. The authors deliberate on the possibilities for the future directions and practical applications of this class of games. The principal feature of the proposed approach to the study of stochastic cooperative games is that it is based on the definition of the imputation as a vector, providing the conditions of individual and group rationality with (given) probability α. It differs from previous approaches that consider the imputation in stochastic cooperative games as fixed proportions, according to which the full utility of the coalition, which as a random variable, is distributed among its members. The approach, proposed by the authors of this article, introduces the concept of α to the core of the game (core with probability α), and a number of problems that can be formulated with respect to the properties of this object.

Keywords: Stochastic cooperative games; Imputation; Alfa-core; Economic agents interaction (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:spr:eurchp:978-3-319-22596-8_25

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DOI: 10.1007/978-3-319-22596-8_25

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