Abstract
The term ‘cooperative equilibria’ has been imported into economics from game theory. It refers to the equilibria of economic situations modelled by means of cooperative games and solved by appealing to an appropriate cooperative solution concept. The influence is not entirely one way, however. Many game theoretic notions (e.g. Cournot–Nash equilibrium, the Core) are formalizations of pre-existing ideas in economics.
This chapter was originally published in The New Palgrave: A Dictionary of Economics, 1st edition, 1987. Edited by John Eatwell, Murray Milgate and Peter Newman
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Mas-Colell, A. (1987). Cooperative Equilibrium. In: Durlauf, S., Blume, L. (eds) The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_221-1
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DOI: https://doi.org/10.1057/978-1-349-95121-5_221-1
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