Global Games

Itzhak Gilboa and Ehud Lehrer ()

No 922, Discussion Papers from Northwestern University, Center for Mathematical Studies in Economics and Management Science

Abstract: Global games are real-valued functions defined on partitions (rather than subsets) of the set of players. They capture "public good" aspects of cooperation, i.e. situations where the payoff is naturally defined for all players ("the globe") together, as is the cause with issues of environmental clean-up, medical research, and so forth. We analyze the more general concept of lattice functions and apply it to partition functions, set functions and the interrelation between the two. We then use this analysis to define and characterize the Shapley value and the core of global games.

Date: 1990-06
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Journal Article: Global Games (1991)
Working Paper: Global Games (1991)
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