Alternating offers in economic environments
AbstractThe Nash bargaining solution of a modified bargaining problem in the contract space yields the pair of stationary subgame perfect equilibrium proposals in the alternating offers model, also for positive time between proposals. As time vanishes, convergence to the Nash bargaining solution is immediate by the Maximum Theorem. Numerical implementation in standard optimization packages is straightforward.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 96 (2007)
Issue (Month): 3 (September)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
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