Non-Cooperative Games, - introduced in the previous edition - focus solely on the payoffs to the individual and searching for stable equilibrium solutions. By contrast, Cooperative Games add an extra dimension to the setup: players now have to think about the payout to the whole organization. Here, instead of individual payoffs, we have to look at both the positive and negative externalities the actions may have on the whole system.
Weekly Gauge #13: Bribes Game Theory - Part 2
Weekly Gauge #13: Bribes Game Theory - Part 2
Weekly Gauge #13: Bribes Game Theory - Part 2
Non-Cooperative Games, - introduced in the previous edition - focus solely on the payoffs to the individual and searching for stable equilibrium solutions. By contrast, Cooperative Games add an extra dimension to the setup: players now have to think about the payout to the whole organization. Here, instead of individual payoffs, we have to look at both the positive and negative externalities the actions may have on the whole system.