Cooperative games model situations where the actors can collaborate, can form coalitions. We know many static models, but our world is more complex. Despite the fact that there have been several experimental studies on coalition formation there are only very few theoretical papers dealing with...

In the paper a game-theoretical model is set up to describe the conflict situation in which the members of a marketing cooperative may take advantage of an external market price, higher than that offered by the cooperative. Under appropriate conditions on the penalty strategy of the cooperative,...

Until the beginning of 1950s, the economic theory in general, and the microeconomic theory in particular, relied totally on the deterministic character of economic phenomena. Nowadays microeconomic models are built on uncertain elements in a competitive environment that is affected by risk and...

We present a model of partnership formation based on two discrete character traits. There are two classes of individual. Each individual observes a sequence of potential partners from the other class. The traits are referred to as attractiveness and character, respectively. All individuals...

Institutional economics is one of the most developing fields of economics. However, many its issues still need to be solved. For instance the theory does not give exact answer to why particular institutions (formal and informal norms) occur, change and cease to exist. The paper tries to solve...

This paper challenges the notion that voting games with purely instrumental players cannot account for high turnout (the ‘turnout paradox'). Although it has been known for over 25 years that such games can generate high-turnout equilibria, the said equilibria have been rejected on the grounds...

Gradualism is common in international cooperation, as states begin with limited cooperation and choose more ambitious targets slowly over time. However, most models of international cooperation are static and thus cannot explain gradualism. I show that when states can implement domestic reforms...

This article revisits the 2 × 2 penalty kick game and seeks to explain differences in mixed strategies associated with different player types and the relative performance of these player types. The authors show that (a) a kicker’s general ability is a reliable indicator of his success rate,...

This paper provides a model that attempts to deal with the transboundary nature of the acid rain problem, using a game theoretic approach consistent with mainstream economic theory. The general forms of cooperative and non-cooperative equilibria in the explicit and implicit set-up of the model...