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Cooperative Decision-Making Under Risk (Hardcover, 2000 ed.)
Loot Price: R3,206
Discovery Miles 32 060
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Cooperative Decision-Making Under Risk (Hardcover, 2000 ed.)
Series: Theory and Decision Library C, 24
Expected to ship within 12 - 17 working days
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In cooperative games, one generally assumes that the agents know
exactly the joint (monetary) gains that can be achieved by any
possible coalition of cooperating agents. In reality, however, only
little is known with certainty. This does not necessarily imply
that traditional cooperative game theory cannot be applied in
practical situations, for in various cases knowledge of the
expected gains suffices. In many other cases, however, it is just
the sharing of risk that is beneficial. Joint ventures, for
instance, exist since cooperation reduces the risk of the
investment for the individual parties. Since the existing models
fail to incorporate such risks, they are not suitable for analyzing
cooperative decision-making under risk. This book aims to rectify
this deficiency by discussing a model of cooperative games with
random payoffs.
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