Cooperative Decision-Making Under Risk

Gebonden Engels 1999 2000e druk 9780792386605
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Samenvatting

In cooperative games, one generally assumes that the agents know exactly the joint (monetary) gains that can be achieved by any possible coalition of cooperating agents. In reality, however, only little is known with certainty. This does not necessarily imply that traditional cooperative game theory cannot be applied in practical situations, for in various cases knowledge of the expected gains suffices. In many other cases, however, it is just the sharing of risk that is beneficial. Joint ventures, for instance, exist since cooperation reduces the risk of the investment for the individual parties. Since the existing models fail to incorporate such risks, they are not suitable for analyzing cooperative decision-making under risk. This book aims to rectify this deficiency by discussing a model of cooperative games with random payoffs.

Specificaties

ISBN13:9780792386605
Taal:Engels
Bindwijze:gebonden
Aantal pagina's:140
Uitgever:Springer US
Druk:2000
Hoofdrubriek:Economie, Economie

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Inhoudsopgave

Acknowledgements. Notations. 1. Introduction. 2. Cooperative Game Theory. 3. Stochastic Cooperative Games. 4. The Core, Superadditivity, and Convexity. 5. Nucleoli for Stochastic Cooperative Games. 6. Risk Sharing and Insurance. 7. Price Uncertainty in Linear Production Situations. A Probability Theory. References. Index.

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        Cooperative Decision-Making Under Risk