Contributed Session Thu.3.MA 005

Thursday, 15:15 - 16:45 h, Room: MA 005

Cluster 8: Game theory [...]

New models and solution concepts I

 

Chair: Daniel Granot

 

 

Thursday, 15:15 - 15:40 h, Room: MA 005, Talk 1

Leqin Wu
A new solution concept for cooperative games

Coauthors: Xin Chen, Ye Lu, Ya-xiang Yuan

 

Abstract:
In this talk, we give a new solution concept for utility-transferable cooperative games. Instead of defining a representative function, we first study the sub-coalition structure and give the concept of stability, then we analyze allocation in the grand coalition based on the stable sub-coalition structure, and give a new solution concept. Moreover, we combine our theoretical result with a specific price-payoff model and find some interesting observations.

 

 

Thursday, 15:45 - 16:10 h, Room: MA 005, Talk 2

Daniel Granot
Subgame perfect consistent stability

Coauthor: Eran Hananay

 

Abstract:
We introduce an approach to farsightedness that provides a non-cooperative foundation for this concept based on vNM type stability and subgame perfect equilibrium. We refer to the set of outcomes derived by this approach as subgame perfect consistent set (SPCS), and demonstrate that it significantly improves upon Chwe’s farsighted reasoning as embodied in his largest consistent set. We further show that the SPCS approach leads, quite remarkably, to Pareto efficiency in various settings including Bertrand and Cournot competitions.

 

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