Coalitional bargaining games with random proposers: Theory and application
AbstractWe 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 InfoArticle provided by Elsevier in its journal Games and Economic Behavior.
Volume (Year): 73 (2011)
Issue (Month): 1 (September)
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Web page: http://www.elsevier.com/locate/inca/622836
Non-cooperative coalitional bargaining Random proposers Nash bargaining solution Wage bargaining Core;
Other versions of this item:
- Okada, Akira, 2007. "Coalitional Bargaining Games with Random Proposers: Theory and Application," Discussion Papers 2007-10, Graduate School of Economics, Hitotsubashi University.
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