Jump to ContentJump to Main Navigation
Collective RationalityEquilibrium in Cooperative Games$
Users without a subscription are not able to see the full content.

Paul Weirich

Print publication date: 2010

Print ISBN-13: 9780195388381

Published to Oxford Scholarship Online: September 2009

DOI: 10.1093/acprof:oso/9780195388381.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 17 November 2019

Cooperative Games

Cooperative Games

(p.139) 8 Cooperative Games
Collective Rationality

Paul Weirich (Contributor Webpage)

Oxford University Press

Players may act jointly to honor a contract that binds them. Cooperative games afford opportunities for joint action, that is, collective action that is causally coordinated by, say, an agreement among the players. For example, bargainers may reach an agreement about a sale price to coordinate their acts. In coalitional games players may form coalitions of individuals who act jointly. A core allocation gives each coalition at least as much as it can obtain on its own. Some coalitional games have no core allocation, however. Hence collective rationality does not require the players in such games to realize a core allocation. A strong Nash equilibrium is such that no coalition has an incentive to deviate from it. Not all coalitional games have a strong Nash equilibrium, so collective rationality does not impose a general requirement to realize one.

Keywords:   bargaining, binding contract, coalitional game, cooperative game, core, core allocation, joint action, strong Nash equilibrium

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .