“Noon Sunshine-Young Scholars Seminar” is a regular academic exchange platform held by School of Finance. It aims to offer valuable occasions of communications among scholars in our college, between teachers and students, the domestic and the oversea. In this semester, we keep our original intention, set off for a new voyage. We will devote ourselves to fostering the academic atmosphere in the college, and promoting the academic level for both teachers and students.

The second session of “Noon Sunshine-Young Scholars Seminar” for the Spring Semester in 2023 is arranged as follows:

Lecture topic

The Cooperation Problem

Keynote Speaker: Li Xiangliang

Commentator: Min Weicheng

Date

Thursday, May 18th, 2023

Time

12:00-13:00

Lecture Venue  

Room 116, School of Finance

Abstract

In this paper, we propose an opposite model of noncooperative games (Nash, 1951): The Cooperation Problem. In this model, players can choose nothing but cooperation. We show that within this model, an ideal solution can be identified via sentiments (formally implemented in an axiomatic approach) as opposed to the Nash equilibrium identified within noncooperative games via rationality. Despite their oppositeness, the two models are complementary. We show that the cooperation problem helps solve the equilibrium selection problem --- a notorious challenge of noncooperative games. And by combining the two models, we propose a new solution of normal-form games that describes “standards of behavior” --- an initial quest of game theory (von Neumann and Morgenstern, 1944).