Gaming and Strategic Decisions a Noncooperative versus Cooperative games ● Cooperative game +Players negotiate binding contracts that allow them to plan joint strategies o Example: Buyer and seller negotiating the price of a good or service or a joint venture by two firms (i.e. Microsoft and Apple o Binding contracts are possible Game Theory 西南民族大学 Slide 5Game Theory 西南民族大学 Slide 5 Gaming and Strategic Decisions ◼ Noncooperative versus Cooperative Games ⚫ Cooperative Game ◆Players negotiate binding contracts that allow them to plan joint strategies ⚫Example: Buyer and seller negotiating the price of a good or service or a joint venture by two firms (i.e. Microsoft and Apple) ⚫Binding contracts are possible