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Transferable utility is a term used in cooperative
Cooperative game

A cooperative game is a game where groups of players may enforce cooperative behaviour, hence the game is a competition between coalitions of players, rather than between individual players....
 game theory
Game theory

Game theory is a branch of applied mathematics that is used in the social sciences , biology, engineering, political science, international relations, computer science , and philosophy....
 and in economics
Economics

File:Ballard Farmers' Market - vegetables.jpgEconomics is the Social sciences that studies the Production theory basics, Distribution , and Consumption of Good and Service ....
. Utility
Utility

In economics, utility is a measure of the relative satisfaction from, or desirability of, consumption of various goods and services. Given this measure, one may speak meaningfully of increasing or decreasing utility, and thereby explain economic behavior in terms of attempts to increase one's utility....
 is transferable if one player can losslessly transfer part of its utility to another player. Such transfers are possible if the players have a common currency
Currency

A currency is a Medium of exchange, facilitating the trade of goods and/or Service s. It is coins and paper bills used as money. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value....
 that is valued equally by all. Note that being able to transfer cash
Cash

Cash refers to money in the physical form of currency, such as banknotes and coins.In bookkeeping and finance, "cash" refers to current assets comprised of currency or currency equivalents that can be accessed immediately or near-immediately ....
 payoff
Payoff

Payoff may refer to:* A Risk dominance in game theory* Payoff matrix or payoff function in a normal form game in game theory* Determinacy in set theory...
s does not imply that utility is transferable: wealthy and poor players may derive a different utility from the same amount of money.

Transferable utility is assumed in many cooperative game
Cooperative game

A cooperative game is a game where groups of players may enforce cooperative behaviour, hence the game is a competition between coalitions of players, rather than between individual players....
s, where the payoff
Payoff

Payoff may refer to:* A Risk dominance in game theory* Payoff matrix or payoff function in a normal form game in game theory* Determinacy in set theory...
s are not given for individual players, but only for coalitions.






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Transferable utility is a term used in cooperative
Cooperative game

A cooperative game is a game where groups of players may enforce cooperative behaviour, hence the game is a competition between coalitions of players, rather than between individual players....
 game theory
Game theory

Game theory is a branch of applied mathematics that is used in the social sciences , biology, engineering, political science, international relations, computer science , and philosophy....
 and in economics
Economics

File:Ballard Farmers' Market - vegetables.jpgEconomics is the Social sciences that studies the Production theory basics, Distribution , and Consumption of Good and Service ....
. Utility
Utility

In economics, utility is a measure of the relative satisfaction from, or desirability of, consumption of various goods and services. Given this measure, one may speak meaningfully of increasing or decreasing utility, and thereby explain economic behavior in terms of attempts to increase one's utility....
 is transferable if one player can losslessly transfer part of its utility to another player. Such transfers are possible if the players have a common currency
Currency

A currency is a Medium of exchange, facilitating the trade of goods and/or Service s. It is coins and paper bills used as money. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value....
 that is valued equally by all. Note that being able to transfer cash
Cash

Cash refers to money in the physical form of currency, such as banknotes and coins.In bookkeeping and finance, "cash" refers to current assets comprised of currency or currency equivalents that can be accessed immediately or near-immediately ....
 payoff
Payoff

Payoff may refer to:* A Risk dominance in game theory* Payoff matrix or payoff function in a normal form game in game theory* Determinacy in set theory...
s does not imply that utility is transferable: wealthy and poor players may derive a different utility from the same amount of money.

Transferable utility is assumed in many cooperative game
Cooperative game

A cooperative game is a game where groups of players may enforce cooperative behaviour, hence the game is a competition between coalitions of players, rather than between individual players....
s, where the payoff
Payoff

Payoff may refer to:* A Risk dominance in game theory* Payoff matrix or payoff function in a normal form game in game theory* Determinacy in set theory...
s are not given for individual players, but only for coalitions. In this case the assumption implies that irrespective of the division of the coalitional payoff, members of the coalition enjoy the same total utility
Utility

In economics, utility is a measure of the relative satisfaction from, or desirability of, consumption of various goods and services. Given this measure, one may speak meaningfully of increasing or decreasing utility, and thereby explain economic behavior in terms of attempts to increase one's utility....
.