New model for cooperative games considers risk, changing strategies and outcomes.
Stochastic games usually focus on expected payoffs, but some players care about risk too. This study introduces a model for games where players consider both the average payoff and the variability (risk) of their outcomes. By combining these two factors, the researchers create a cooperative version of the game where players work together to achieve better outcomes. The study shows how players can make decisions that balance risk and reward, leading to more effective strategies in stochastic games.