Subjectivity and correlation, though formally related, are conceptually distinct and independent issues. We start by discussing subjectivity. A mixed strategy in a game involves the selection of a… Expand

If it is common knowledge that the players in a game are Bayesian utility maximizers who treat uncertainty about other players' actions like any other uncertainty, then the outcome is necessarily a… Expand

Two people, 1 and 2, are said to have common knowledge of an event E if both know it, 1 knows that 2 knows it, 2 knows that 1 knows it, 1 knows that 2 knows that 1 knows it, and so on.

Abstract For three different bankruptcy problems, the 2000-year old Babylonian Talmud prescribes solutions that equal precisely the nucleoli of the corresponding coalitional games. A rationale for… Expand

It is suggested that the most natural mathematical model for a market with "perfect competition" is one in which there is a continuum of traders (like the continuum of points on a line). It is shown… Expand

The "Shapley value" of a finite multi- person game associates to each player the amount he should be willing to pay to participate. This book extends the value concept to certain classes of… Expand

Many game-theoretic solution notions have been defined or can be defined not only with reference to the all-player coalition, but also with reference to an arbitrary coalition structure. In this… Expand