What are the differences between cooperative and non-cooperative games?

What are the differences between cooperative and non-cooperative games?

Cooperative games are those where players can form alliances and make binding agreements, while non-cooperative games are characterized by players acting independently without collaboration.

Can you give me an example of each type?

Sure! In a cooperative game, players might work together to achieve a common goal, like in a team sport. In a non-cooperative game, like poker, each player competes against the others without any collaboration.

What strategies are commonly used in these games?

In cooperative games, strategies often involve negotiation and coalition formation. In non-cooperative games, strategies may include bluffing, signaling, and competitive tactics.

How do these concepts apply to real-world situations?

These concepts apply in economics, politics, and social interactions, where cooperation can lead to mutual benefits, while competition can drive individual success.