Cooperative game theory offers a high-level approach, since it only describes the structure, strategies and withdrawals of coalitions, while non-cooperative game theory also examines the impact of negotiated procedures on the distribution of payments within each coalition. Since non-cooperative game theory is more general, cooperative games can be analyzed by the non-cooperative game theory approach (it is not the opposite), provided that sufficient assumptions are made to encompass all possible strategies available to players due to the possibility of ensuring external collaboration. While it would therefore be possible to express all games in a non-cooperative setting, in many cases there is insufficient information to accurately model the formal procedures available to players during the strategic negotiation process, or the resulting model would be excessively complex to offer a practical tool in the real world. In such cases, cooperative game theory offers a simplified approach that allows for the analysis of gambling in general without having to make assumptions about bargaining power. Cooperative games are often analyzed as part of cooperative game theory, which focuses on predicting the coalitions that will form, the common actions that will go into the groups, and the resulting collective payments. It contrasts with traditional non-cooperative game theory, which focuses on predicting the actions and withdrawals of individual players and analyzing Nash equilibria. [2] [3] So what was the journey into game theory? This will allow us to study how individual companies want to operate in oligopolies. Consider two companies that each produce widgets. They can choose whether they want to produce at a high price level or at a low price level. Remember that for a company to produce (and sell) more, it must ask for less. And if a company limits its production, it can ask for more. Remember, a monopoly is able to get an extra profit because it limits production and demands more, while a company can sell more in a perfectly competitive market, but at a lower price, and therefore gets a lower profit.