The Cooperative Solution of Stochastic Games
Elon Kohlberg and
Abraham Neyman ()
Discussion Paper Series from The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem
Building on the work of Nash, Harsanyi, and Shapley, we define a cooperative solution for strategic games that takes account of both the competitive and the cooperative aspects of such games. We prove existence in the general (NTU) case and uniqueness in the TU case. Our main result is an extension of the definition and the existence and uniqueness theorems to stochastic games - discounted or undiscounted.
Pages: 39 pages
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Persistent link: https://EconPapers.repec.org/RePEc:huj:dispap:dp679
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