Economics, Econometrics and Finance
4 years ago

New Game Theory Concept Solves Global Warming Crisis Through Cooperation

RePEc: Research Papers in Economics
Subgame Perfect Cooperation in an Extensive Game
Parkash Chander, Myrna Wooders

Paper Summary

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The article introduces a new way to solve games by combining two important concepts in game theory. By forming coalitions in a game, players can work together as one. The researchers found a way to determine when this cooperative strategy is the best choice in a game. They applied this method to a game about global warming and showed that it can lead to successful outcomes.