This week “The Economist explains” is given over to economics. For each of six days until Saturday this blog will publish a short explainer on a seminal idea. ECONOMISTS can usually explain the past ...

Christina Majaski writes and edits finance, credit cards, and travel content. She has 14+ years of experience with print and digital publications. Robert Kelly is managing director of XTS Energy LLC, ...

Nash equilibrium lies at the heart of game theory, representing a condition in which every participant chooses a strategy that optimises their individual outcome given the strategies of the others.

The concept of coalition proof Nash equilibrium was introduced by Bernheim et al. [5]. In the present paper, we consider the representation problem for coalition proof Nash equilibrium: For a given ...