Endogenous formation of cooperation structures
Article Abstract:
The equilibrium cooperation structure is determined using a coalitional game which allows players to cooperate independently. The cooperation-formation game, which considers a best-response fictitious-play learning process, indicates a stable equilibria that maximizes the learning potential. This potential only exists if players can derive equal benefits from the coalitional game. The result also applies to superadditive coalitional games which partly assumes similar cooperation structures.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1996
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Hierarchies of beliefs and common knowledge
Article Abstract:
An analysis of hierarchies of beliefs and common knowledge is presented. The analysis focuses on such hierarchies given game-theoretic conditions, where a hierarchy referred to a single player's type. It is shown that players with coherent types influences belief over other player types. In addition, the imposition of a common coherency base for knowledge restricts the model of beliefs.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1993
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