Cooperative Game-Theoretic Models of the Cournot Oligopoly

Alexey V. Korolev and Guennady A. Ougolnitsky ()
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Alexey V. Korolev: National Research University, Higher School of Economics at Saint Petersburg, Russian Federation
Guennady A. Ougolnitsky: I. I. Vorovich Institute of Mathematics, Mechanics and Computer Sciences, Southern Federal University, Russian Federation

International Game Theory Review (IGTR), 2023, vol. 25, issue 02, 1-31

Abstract: In this paper, we build and investigate cooperative games with different characteristic functions (von Neumann–Morgenstern, Petrosyan–Zaccour, Gromova–Petrosyan) on the base of symmetrical Cournot oligopoly game-theoretic models in normal form. We find Nash and Stackelberg equilibria and cooperative solutions for nonsymmetrical Cournot oligopoly game-theoretic models in normal form. Also, we build and investigate cooperative three-player games with the same characteristic functions on the base of these models, including the calculation of Shapley value. We compare payoffs received by the players according to different optimality principles of cooperative games and games in normal form.

Keywords: Characteristic functions; cooperative games; Cournot oligopoly; Nash and Stackelberg equilibria (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1142/S0219198923500044

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