The Bargaining Set

The Bargaining Set is a concept in game theory that refers to a collection of solutions in cooperative games, where players negotiate outcomes. In this set, each outcome must be stable, meaning no group of players can deviate and achieve a better result for themselves. It balances individual interests with group cooperation, ensuring that any agreement satisfies all participants, preventing anyone from feeling the urge to renegotiate. Essentially, it helps ensure fair and acceptable outcomes in situations where parties collaborate to achieve mutual benefits.