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research articles : Rationalizability and equilibrium in N-person sequential bargaining

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Author Info
Vincent J. Vannetelbosch (CORE, University of Louvain, Louvain-la-Neuve, BELGIUM)

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Abstract

This paper deals with N-person sequential bargaining games with complete information. For N-person sequential bargaining games, uniqueness of the SPE has been obtained by allowing the players to exit with partial agreements. Adopting a non-equilibrium approach, we show that N-person sequential bargaining games with exit are solvable by a refinement of rationalizability for multi-stage games (trembling-hand rationalizability) whatever the impatience of the players. That is, once we adopt the non-equilibrium approach, the exit opportunity still fulfils its original aim: we achieve a unique solution by introducing the exit opportunity. Moreover, this unique solution is the unique SPE.

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File URL: http://link.springer.de/link/service/journals/00199/papers/9014002/90140353.pdf
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Publisher Info
Article provided by Springer in its journal Economic Theory.

Volume (Year): 14 (1999)
Issue (Month): 2 ()
Pages: 353-371
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Handle: RePEc:spr:joecth:v:14:y:1999:i:2:p:353-371

Note: Received: October 30, 1996; revised version: July 7, 1998
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Related research
Keywords: Sequential bargaining; N-person; Rationalizability.;

Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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