Team-Maxmin Equilibria☆

Abstract In a noncooperative game, a team is a set of players that have identical payoffs. We investigate zero-sum games where a team of several players plays against a single adversary. The team is not regarded as a single player because the team members might not be able to coordinate their actions. In such a game, a certain equilibrium can be selected naturally: the team-maxmin equilibrium . It assures the team players the best payoff they can hope for, given their inability to coordinate. A team-maxmin equilibrium exists, and in a generic game it is unique. Journal of Economic Literature Classification Number: C72.