Abstract
Abstract Here, we introduce the concept of a cooperative game with transferable utility and analyze the relationship between cooperative and noncooperative games. We discuss properties of cooperative games and illustrate them with several classes of well‐known games including market games, cost allocation games, and simple games. We also discuss the assumptions behind games with transferable utility and compare them to games without transferable utility. Finally, we mention briefly a number of solution concepts for cooperative games and summarize recent extensions of cooperative game theory.
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