Coalition Formation in a Five-Person Market Game
Article Abstract:
Coalition forming behavior in market game setting was studied. Market games are a class of cooperative games with side payments. Four solution concepts were examined but none was fully successful. Most games were played in two stages. A five-person game was played until one coalition was formed. If the coalition was a four or five coalition the game terminated. If the first coalition was two or three, the remaining members continued in a reduced game. Generally the payoff allocation was equally divided. Tables show payoff configurations. Key words and their effects are also included in a table. Statistics, ratified outcomes, predictions and outcomes, and payoffs are in several tables.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1984
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Coalition Formation in a Five-Person Market Game
Article Abstract:
Coalition behavior is studied within market games. A five-person symmetric cooperative game with sidepayments is used. Four solution concepts are considered: core, bargaining, shapley value, and equal share solution. Fifty-five students form eleven pentads and play six computer-controlled market games. Results concerning the coalition structures formed and the payoff allocations made are discussed. None of the four solution concepts are completely successful. A maximal share structure describes the coalition structure in all six games.
Publication Name: Management Science
Subject: Business, general
ISSN: 0025-1909
Year: 1984
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Co-operation Is the Name of the Game
Article Abstract:
On his visit to Australia, Mr. Philip Hughes, chairman of Logica in England and member of the Alvey committee on software, compared the software industry to a cottage industry. Emphasis has been on designing for the individual customer rather than designing common building blocks. Mr. Hughes called for major investments in restructuring and predicted the decline of small companies in the next five years.
Publication Name: Modern Office
Subject: Business, general
ISSN: 0047-7737
Year: 1983
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