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On the asymptotic uniqueness of bargaining equilibria

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  • Herings, P. Jean-Jacques
  • Predtetchinski, Arkadi

Abstract

This note reexamines the connection between the asymmetric Nash bargaining solution and the equilibria of strategic bargaining games. A first example shows non-convergence to the asymmetric Nash bargaining solution. A second example demonstrates the possibility of multiple limits.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 111 (2011)
Issue (Month): 3 (June)
Pages: 243-246

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Handle: RePEc:eee:ecolet:v:111:y:2011:i:3:p:243-246

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Web page: http://www.elsevier.com/locate/ecolet

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Keywords: Bargaining Nash bargaining solution Subgame perfect equilibrium Stationary strategies Multiplicity of equilibrium;

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References

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  1. Klaus Kultti & Hannu Vartiainen, 2010. "Multilateral non-cooperative bargaining in a general utility space," International Journal of Game Theory, Springer, vol. 39(4), pages 677-689, October.
  2. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
  3. Britz, Volker & Herings, P. Jean-Jacques & Predtetchinski, Arkadi, 2010. "Non-cooperative support for the asymmetric Nash bargaining solution," Journal of Economic Theory, Elsevier, vol. 145(5), pages 1951-1967, September.
  4. Predtetchinski, Arkadi, 2007. "One-dimensional bargaining with a general voting rule," Research Memorandum 045, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  5. Herings, P. Jean-Jacques & Predtetchinski, Arkadi, 2007. "One-dimensional Bargaining with Markov Recognition Probabilities," Research Memorandum 044, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  6. Cardona, Daniel & Ponsati, Clara, 2007. "Bargaining one-dimensional social choices," Journal of Economic Theory, Elsevier, vol. 137(1), pages 627-651, November.
  7. Seok-ju Cho & John Duggan, 2001. "Uniqueness of Stationary Equilibria in a one-Dimensional Model of Bargaining," Wallis Working Papers WP23, University of Rochester - Wallis Institute of Political Economy.
  8. Sergiu Hart & Andreu Mas-Colell, 1994. "Bargaining and value," Economics Working Papers 114, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 1995.
  9. 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.
  10. Merlo, Antonio & Wilson, Charles A, 1995. "A Stochastic Model of Sequential Bargaining with Complete Information," Econometrica, Econometric Society, vol. 63(2), pages 371-99, March.
  11. Lensberg, T. & Thomson, W., 1988. "Characterizing The Nash Bargaining Solution Without Pareto-Optimality," RCER Working Papers 136, University of Rochester - Center for Economic Research (RCER).
  12. Laruelle, Annick & Valenciano, Federico, 2008. "Noncooperative foundations of bargaining power in committees and the Shapley-Shubik index," Games and Economic Behavior, Elsevier, vol. 63(1), pages 341-353, May.
  13. Kultti, Klaus & Vartiainen, Hannu, 2007. "Von Neumann-Morgenstern stable sets, discounting, and Nash bargaining," Journal of Economic Theory, Elsevier, vol. 137(1), pages 721-728, November.
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Cited by:
  1. Herings P. Jean-Jacques & Predtetchinski A., 2011. "Procedurally Fair Income Taxation Schemes," Research Memorandum 035, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  2. Herings P. Jean-Jacques & Britz Volker & Predtetchinski Arkadi, 2012. "On the Convergence to Nash Bargaining Solution for Endogenous Bargaining Protocols," Research Memorandum 030, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).

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