Cooperative decision making in a stochastic environment

Cooperative game theory is a mathematical tool to analyze situations involving several individuals who can obtain certain benefits by cooperating. The main questions this theory addresses are who will cooperate with whom and how will the corresponding benefits be divided. Most results of cooperative game theory, however, only apply to cases where these benefits are deterministic. In this thesis we abandon this assumption and allow for stochastic benefits. Examples of such situations can be found in linear production situations, sequencing and financial markets. The aim of this work is then to develop a theory on games with stochastic payoffs using traditional game theory as a guideline