DOI

In this chapter, we consider a cost-saving joint venture in the presence of stochastic elements. Section 9.1 formulates a dynamic cost-saving corporate joint venture in a stochastic environment and characterizes its subgame consistent solutions. An explicitly solvable illustration is given in Sect. 9.2. A characterization of the Shapley Value solution to a stochastic cost-saving joint venture is presented in Sect. 9.3 and a payoff distribution procedure leading to a subgame consistent solution is computed. Extensions to infinite-horizon ventures are formulated with explicit illustrations in the subsequent two sections.

Язык оригиналаанглийский
Название основной публикацииSUBGAME CONSISTENT ECONOMIC OPTIMIZATION: AN ADVANCED COOPERATIVE DYNAMIC GAME ANALYSIS
ИздательBirkhäuser Verlag AG
Страницы239-270
Число страниц32
ISBN (печатное издание)978-0-8176-8261-3
DOI
СостояниеОпубликовано - 1 янв 2012

Серия публикаций

НазваниеStatic and Dynamic Game Theory: Foundations and Applications
ISSN (печатное издание)2363-8516
ISSN (электронное издание)2363-8524

    Предметные области Scopus

  • Статистика, теория вероятности и теория неопределенности
  • Теория вероятности и статистика
  • Прикладная математика

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