The paper sets up a discrete-time, deterministic, coalition game model among the major agents exploiting the cod stock in Baltic Sea. The characteristic func-tion is constructed and the Shapley value and the nucleolus are used as one-point solution concepts. The paper identifies the problem with...

There are two conditions that are important to investigate the stability problem when considering the long-term cooperative agreements: the dynamic stability (time consistency), and strategic stability. This paper presents the results based on the profit distribution procedure (PRP), which...