Cooperative Game Theory
Cooperative Game Theory is a branch of game theory that studies how players can work together to achieve better outcomes than they could individually. In these games, players form coalitions and negotiate agreements to share the benefits of their cooperation. The focus is on collective strategies and the distribution of payoffs among participants.
One key concept in Cooperative Game Theory is the Shapley value, which provides a method for fairly distributing the total gains from cooperation based on each player's contribution. This approach helps to analyze situations in various fields, including economics, political science, and social sciences, where collaboration is essential for success.