A Coalition Game of the Baltic Sea Cod Fishery

Lone Grønbæk

No 55/04, Working Papers from University of Southern Denmark, Department of Sociology, Environmental and Business Economics

Abstract: The paper sets up a discrete-time, deterministic, coalition game model among the major agents exploiting the cod stock in Baltic Sea. The characteristic func-tion is constructed and the Shapley value and the nucleolus are used as one-point solution concepts. The paper identifies the problem with these sharing rules and develops a new sharing rule which takes into account the stability of cooperation. The paper contributes to the literature by introducing a connection between cooperative games (sharing rules) and non-cooperative games (stabil-ity).

Keywords: Fisheries; Cooperation; Coalition Game; Baltic Sea Cod; Shapley value; Characteristic function; nucleolus; Sharing rules; stability of cooperation (search for similar items in EconPapers)
JEL-codes: Q22 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2004-03
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