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p. 1409. Bargaining and coalitionslocked

  • Ken Binmore


‘Bargaining and coalitions’ investigates cooperative game theory. Cooperative game theory is not the antithesis of noncooperative game theory. It simply assumes that players have solutions to all the problems cooperation can entail, rather than attempting to explain them. The Nash program attempts to determine whether cooperation works in the way cooperative game theorists think it does. He found that negotiation itself is a type of noncooperative game. Rubenstein's bargaining model posits that everything is negotiable depending on information, commitment, risk, and time. Some say that all bargaining is unfair. Others see it as the cornerstone of fairness. This knowledge of bargaining can be applied to the formation of coalitions.

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