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Bargaining set with endogenous leaders: A convergence result

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  • Hervés-Estévez, Javier
  • Moreno-García, Emma

Abstract

We provide a notion of bargaining set for finite economies where the proponents of objections (leaders) are endogenous. We show its convergence to the set of Walrasian allocations when the economy is replicated.

Suggested Citation

  • Hervés-Estévez, Javier & Moreno-García, Emma, 2018. "Bargaining set with endogenous leaders: A convergence result," Economics Letters, Elsevier, vol. 166(C), pages 10-13.
    • Handle: RePEc:eee:ecolet:v:166:y:2018:i:c:p:10-13
    DOI: 10.1016/j.econlet.2018.01.028
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    References listed on IDEAS

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    1. Roberto Serrano & Rajiv Vohra, 2002. "Implementing the Mas-Colell bargaining set," Investigaciones Economicas, Fundación SEPI, vol. 26(2), pages 285-298, May.
    2. Robert M. Anderson & Walter Trockel & Lin Zhou, 1997. "Nonconvergence of the Mas-Colell and Zhou Bargaining Sets," Econometrica, Econometric Society, vol. 65(5), pages 1227-1240, September.
    3. Dutta, Bhaskar & Ray, Debraj & Sengupta, Kunal & Vohra, Rajiv, 1989. "A consistent bargaining set," Journal of Economic Theory, Elsevier, vol. 49(1), pages 93-112, October.
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    5. Anderson, Robert M., 1992. "The core in perfectly competitive economies," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 14, pages 413-457, Elsevier.
    6. Vohra, Rajiv, 1991. "An existence theorem for a bargaining set," Journal of Mathematical Economics, Elsevier, vol. 20(1), pages 19-34.
    7. Serrano, Roberto & Vohra, Rajiv, 2002. "Bargaining and Bargaining Sets," Games and Economic Behavior, Elsevier, vol. 39(2), pages 292-308, May.
    8. Mas-Colell, Andreu, 1989. "An equivalence theorem for a bargaining set," Journal of Mathematical Economics, Elsevier, vol. 18(2), pages 129-139, April.
    9. Maschler, Michael, 1976. "An advantage of the bargaining set over the core," Journal of Economic Theory, Elsevier, vol. 13(2), pages 184-192, October.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Bargaining sets; Leader; Coalitions; Core; Veto mechanism;
    All these keywords.

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D00 - Microeconomics - - General - - - General

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