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Bargaining with many players: A limit result

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Author Info
Kultti, Klaus
Vartiainen, Hannu

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Abstract

We provide a simple characterization of the stationary subgame perfect equilibrium of an alternating offers bargaining game when the number of players increases without a limit. Core convergence literature is emulated by increasing the number of players by replication. The limit allocation is interpreted in terms of Walrasian market for being the first proposer.

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File URL: http://www.sciencedirect.com/science/article/B6V84-4T9CCPH-1/2/249ea331d9fc946c595dba00fd22c386
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Publisher Info
Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 101 (2008)
Issue (Month): 3 (December)
Pages: 249-252
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Handle: RePEc:eee:ecolet:v:101:y:2008:i:3:p:249-252

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Related research
Keywords: Non-cooperative bargaining Stationary equilibrium Replication Walrasian market;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Fishburn, Peter C & Rubinstein, Ariel, 1982. "Time Preference," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 23(3), pages 677-94, October. [Downloadable!] (restricted)
  2. Ken Binmore & Ariel Rubinstein & Asher Wolinsky, 1986. "The Nash Bargaining Solution in Economic Modelling," RAND Journal of Economics, The RAND Corporation, vol. 17(2), pages 176-188, Summer. [Downloadable!] (restricted)
  3. Klaus Kultti & Hannu Vartiainen, 2007. "Von Neumann-Morgenstern Stable Set Bridges Time-Preferences to the Nash Solution," The B.E. Journal of Theoretical Economics, Berkeley Electronic Press, vol. 7(1). [Downloadable!]
  4. Krishna, Vijay & Serrano, Roberto, 1996. "Multilateral Bargaining," Review of Economic Studies, Blackwell Publishing, vol. 63(1), pages 61-80, January. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Hannu Vartiainen, 2008. "A conflict-free arbitration scheme in a large population," Discussion Papers 34, Aboa Centre for Economics. [Downloadable!]
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