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Coalitional bargaining games with random proposers: Theory and application

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  • Okada, Akira

Abstract

We consider a non-cooperative coalitional bargaining game with random proposers in a general situation for which players differ in recognition probability and time preference. We characterize an efficient equilibrium as the generalized Nash bargaining solution that belongs to the core. The model is applied to wage bargaining between an employer and multiple workers. Although involuntary unemployment may occur in equilibrium, full employment emerges as players become sufficiently patient.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 73 (2011)
Issue (Month): 1 (September)
Pages: 227-235

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Handle: RePEc:eee:gamebe:v:73:y:2011:i:1:p:227-235

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Web page: http://www.elsevier.com/locate/inca/622836

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Keywords: Non-cooperative coalitional bargaining Random proposers Nash bargaining solution Wage bargaining Core;

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References

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  1. Armando Gomes & Philippe Jehiel, 2005. "Dynamic Processes of Social and Economic Interactions: On the Persistence of Inefficiencies," Journal of Political Economy, University of Chicago Press, vol. 113(3), pages 626-667, June.
  2. Shaked, Avner & Sutton, John, 1984. "Involuntary Unemployment as a Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 52(6), pages 1351-64, November.
  3. Montero, M.P., 1999. "Noncooperative Bargaining in Apex Games and the Kernel," Discussion Paper 1999-61, Tilburg University, Center for Economic Research.
  4. Baron David & Kalai Ehud, 1993. "The Simplest Equilibrium of a Majority-Rule Division Game," Journal of Economic Theory, Elsevier, vol. 61(2), pages 290-301, December.
  5. Ray, Debraj, 2007. "A Game-Theoretic Perspective on Coalition Formation," OUP Catalogue, Oxford University Press, number 9780199207954.
  6. Eraslan, Hulya & Merlo, Antonio, 2002. "Majority Rule in a Stochastic Model of Bargaining," Journal of Economic Theory, Elsevier, vol. 103(1), pages 31-48, March.
  7. Olivier Compte & Philippe Jehiel, 2008. "The Coalitional Nash Bargaining Solution," Levine's Bibliography 122247000000001852, UCLA Department of Economics.
  8. Armando Gomes, 2005. "Multilateral Contracting with Externalities," Econometrica, Econometric Society, vol. 73(4), pages 1329-1350, 07.
  9. Westermark, Andreas, 2003. "Bargaining, binding contracts, and competitive wages," Games and Economic Behavior, Elsevier, vol. 43(2), pages 296-311, May.
  10. Norman, Peter, 2002. "Legislative Bargaining and Coalition Formation," Journal of Economic Theory, Elsevier, vol. 102(2), pages 322-353, February.
  11. Montero, Maria, 2006. "Noncooperative foundations of the nucleolus in majority games," Games and Economic Behavior, Elsevier, vol. 54(2), pages 380-397, February.
  12. Okada, Akira, 1996. "A Noncooperative Coalitional Bargaining Game with Random Proposers," Games and Economic Behavior, Elsevier, vol. 16(1), pages 97-108, September.
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Citations

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Cited by:
  1. Siddhartha Bandyopadhyay & Kalyan Chatterjee & Tomas Sjostrom, 2009. "Pre-electoral Coalitions and Post-election Bargaining," Departmental Working Papers 200908, Rutgers University, Department of Economics.
  2. Okada, Akira, 2012. "The Stationary Equilibrium of Three-Person Cooperative Games: A Classification," Discussion Papers 2012-06, Graduate School of Economics, Hitotsubashi University.
  3. Andrew McLennan & Hülya Eraslan, 2010. "Uniqueness of Stationary Equilibrium Payoffs in Coalitional Bargaining," Economics Working Paper Archive 562, The Johns Hopkins University,Department of Economics.
  4. Breitmoser, Yves & Tan, Jonathan H.W., 2014. "Reference Dependent Altruism," MPRA Paper 52774, University Library of Munich, Germany.
  5. Harold Houba & Gerard van der Laan, 2013. "International Environmental Agreements for River Sharing Problems," Tinbergen Institute Discussion Papers 13-157/II, Tinbergen Institute.
  6. BRITZ, Volker & HERINGS, Jean-Jacques & PREDTETCHINSKI, Arkadi, 2013. "On the Convergence to the Nash bargaining solution for action-dependent bargaining protocols," CORE Discussion Papers 2013044, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. 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).
  8. Tomohiko Kawamori, 2013. "Rejecter-proposer legislative bargaining with heterogeneous time and risk preferences," Social Choice and Welfare, Springer, vol. 40(1), pages 27-40, January.

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