Advanced Topics in Coalition Formation and Bargaining Theory
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Description
This exam assesses advanced topics in coalition formation and bargaining theory, focusing on principles like the Shapley Value and bargaining solutions. Understanding these concepts is crucial for negotiations across various fields.
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Exam Details
Duration: 1 hour
Prerequisites: Game Theory Fundamentals, Negotiation Theory, Economic Strategy
Key Topics
- Coalition Formation
- Bargaining Theory
- Shapley Value
- Core of a Coalition
- Bargaining Solutions
Learning Outcomes
- Explain Coalition Dynamics
- Assess Bargaining Strategies
- Relate Theory to Negotiation
- Evaluate Real-World Applications
Full Description
This exam explores the complexities of coalition formation and bargaining processes within game theory frameworks. Key principles under discussion include the Shapley Value, Core of a Coalition, and Bargaining Solutions.
Understanding coalition dynamics is vital for sectors such as economics, politics, and international relations, affecting negotiation processes, alliances, and collective decision-making. Insights gained can inform effective strategies for achieving desirable outcomes.
Candidates will be evaluated on their ability to articulate the theoretical foundations of bargaining and coalition formation, as well as their implications in real-world scenarios.
A strong focus on practical applications alongside theoretical understanding will encourage candidates to connect theory with real-world negotiation contexts.
Sample Questions
- What are the implications of the Shapley Value in coalition formation?
- How do bargaining solutions influence negotiation outcomes in strategic contexts?
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