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Multilateral negotiations with private side-deals: a multiplicity example

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Author Info

  • Roberto Serrano

    ()
    (Brown University)

  • Sandeep Baliga

    ()
    (Northwestern University and Institute for Advanced Study)

Abstract

We study a multilateral negotiation procedure that allows for "partial agreements" in which responders are told only their own shares. Applications of our model include negotiations under "joint and several liability." Unlike previous models of multilateral bargaining with exit, we find that there are multiple equilibrium outcomes.

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File URL: http://www.accessecon.com/pubs/EB/2001/Volume3/EB-01C70003A.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 3 (2001)
Issue (Month): 1 ()
Pages: 1-7

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Handle: RePEc:ebl:ecbull:eb-01c70003

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Related research

Keywords: imperfect information;

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References

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  1. Baliga, S. & Serrano, R., 1995. "Negotiations with Side-Deals," Cambridge Working Papers in Economics 9510, Faculty of Economics, University of Cambridge.
  2. Ariel Rubinstein, 2010. "Perfect Equilibrium in a Bargaining Model," Levine's Working Paper Archive 661465000000000387, David K. Levine.
  3. Baliga Sandeep & Serrano Roberto, 1995. "Multilateral Bargaining with Imperfect Information," Journal of Economic Theory, Elsevier, vol. 67(2), pages 578-589, December.
  4. VANNETELBOSCH, Vincent J., 1996. "Rationalizability and Equilibrium in N-Person Sequential Bargaining," CORE Discussion Papers 1996041, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. Martin J. Osborne & Ariel Rubinstein, 2005. "Bargaining and Markets," Levine's Bibliography 666156000000000515, UCLA Department of Economics.
  6. Krishna, Vijay & Serrano, Roberto, 1996. "Multilateral Bargaining," Review of Economic Studies, Wiley Blackwell, vol. 63(1), pages 61-80, January.
  7. Haller, Hans, 1986. "Non-cooperative bargaining of N [ges] 3 players," Economics Letters, Elsevier, vol. 22(1), pages 11-13.
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Citations

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Cited by:
  1. Roberto Serrano, 2007. "Bargaining," Working Papers 2007-06, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  2. Yi-Chun Chen & Xiao Luo, 2008. "Delay in a bargaining game with contracts," Theory and Decision, Springer, vol. 65(4), pages 339-353, December.

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