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Regularity of pure strategy equilibrium points in a class of bargaining games

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  • Tasos Kalandrakis

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Abstract

We develop an index theory for the Stationary Subgame Perfect (SSP) equilibrium set in a class of n-player $(n\ge 2)$ sequential bargaining games with probabilistic recognition rules. For games with oligarchic voting rules (a class that includes unanimity rule), we establish conditions on individual utilities that ensure that for almost all discount factors, the number of SSP equilibria is odd and the equilibrium correspondence lower-hemicontinuous. For games with general, monotonic voting rules, we show generic (in discount factors) determinacy of SSP equilibria under the restriction that the agreement space is of dimension one. For non-oligarchic voting rules and agreement spaces of higher finite dimension, we establish generic determinacy for the subset of SSP equilibria in pure strategies. The analysis also extends to the case of fixed delay costs. Lastly, we provide a sufficient condition for uniqueness of SSP equilibrium in oligarchic games. Copyright Springer-Verlag Berlin/Heidelberg 2006

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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 28 (2006)
Issue (Month): 2 (06)
Pages: 309-329

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Handle: RePEc:spr:joecth:v:28:y:2006:i:2:p:309-329

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Keywords: Local uniqueness of equilibrium; Regularity; Sequential bargaining.;

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Citations

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Cited by:
  1. Herings P. Jean-Jacques & Predtetchinski Arkadi, 2011. "Procedurally Fair Taxation," Research Memorandum 024, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  2. Predtetchinski, Arkadi, 2011. "One-dimensional bargaining," Games and Economic Behavior, Elsevier, vol. 72(2), pages 526-543, June.
  3. Jon Eguia, 2013. "On the spatial representation of preference profiles," Economic Theory, Springer, vol. 52(1), pages 103-128, January.
  4. Herings, P. Jean-Jacques & Predtetchinski, Arkadi, 2007. "One-dimensional Bargaining with Markov Recognition Probabilities," Research Memorandum 044, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  5. John Duggan & Tasos Kalandrakis, 2007. "Dynamic Legislative Policy Making," Wallis Working Papers WP45, University of Rochester - Wallis Institute of Political Economy.
  6. David Baron & Alexander Hirsch, 2012. "Common agency lobbying over coalitions and policy," Economic Theory, Springer, vol. 49(3), pages 639-681, April.
  7. Kalandrakis, Tasos, 2004. "Equilibria in sequential bargaining games as solutions to systems of equations," Economics Letters, Elsevier, vol. 84(3), pages 407-411, September.
  8. Yves Breitmoser, 2011. "Parliamentary bargaining with priority recognition for committee members," Social Choice and Welfare, Springer, vol. 37(1), pages 149-169, June.
  9. 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.
  10. Breitmoser, Yves, 2010. "Proto-coalition bargaining and the core," MPRA Paper 24995, University Library of Munich, Germany.
  11. Herings P.J.J. & Meshalkin A. & Predtetchinski A., 2012. "A Folk Theorem for Bargaining Games," Research Memorandum 056, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  12. David Baron & Daniel Diermeier & Pohan Fong, 2012. "A dynamic theory of parliamentary democracy," Economic Theory, Springer, vol. 49(3), pages 703-738, April.
  13. Herings P. Jean-Jacques & Predtetchinski Arkadi, 2009. "Bargaining with Non-convexities," Research Memorandum 042, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
  14. Herings P. Jean-Jacques & Predtetchinski A., 2011. "Procedurally Fair Income Taxation Schemes," Research Memorandum 035, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).

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