Publisher's Synopsis
This work describes all aspects of teams, using recent techniques such as the theory of algorithms, and examining the core material presented by Marschak in the 1950s. A team is defined as a group of persons with identical interests but whose information and actions are individual.;The authors apply the theory of algorithms to team problems and to teams with unknown utility which must search for an optimum. They present finite two-person teams as two-by-two blocked matrices and show how to apply the theory of fuzzy sets to derive their optimum volume in certain cases. As well as discussing games played by teams, the authors investigate incentive problems for teams to show that if teams have approximately identical interests, transfer payments can make them exactly identical.;The book also covers decision theory and forms of utility, information structures, games and Marschak-Radner's teams; whilst new topics include types of teams, applications of fuzzy sets and NP-completeness, incentive problems, teams with unknown utility and values for teams.
