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Perfect Equilibria of a Model of N-Person Noncooperative Bargaining

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  • Krishna, Vijay
  • Serrano, Roberto

Abstract

We study the set of subgame perfect equilibria associated with the "n"-person noncooperative bargaining mechanism proposed by Hart and Mas-Colell (1992). Our results pertain to transferable utility games. The set of perfect equilibria depends on the parameter representing the "continuation probability," [rho]. For general TU games, we characterize the set of payoffs from perfect equilibria for (1) small values of [rho]; and (2) large values of [rho]. For symmetric games a complete characterization for all values of [rho] is provided.

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Bibliographic Info

Article provided by Springer in its journal International Journal of Game Theory.

Volume (Year): 24 (1995)
Issue (Month): 3 ()
Pages: 259-72

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Handle: RePEc:spr:jogath:v:24:y:1995:i:3:p:259-72

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Cited by:
  1. Ju, Y. & Wettstein, D., 2006. "Implementing Cooperative Solution Concepts: A Generalized Bidding Approach," Discussion Paper 2006-42, Tilburg University, Center for Economic Research.
  2. Roberto Serrano, 2007. "Cooperative Games: Core and Shapley Value," Working Papers 2007-11, Brown University, Department of Economics.
  3. Roberto Serrano, 2005. "Fifty years of the Nash program, 1953-2003," Investigaciones Economicas, Fundación SEPI, vol. 29(2), pages 219-258, May.
  4. Perez-Castrillo, David & Wettstein, David, 2001. "Bidding for the Surplus : A Non-cooperative Approach to the Shapley Value," Journal of Economic Theory, Elsevier, vol. 100(2), pages 274-294, October.
  5. Corominas-Bosch, Margarida, 2000. "Bargaining with asymmetric threat points," Economics Letters, Elsevier, vol. 69(3), pages 333-339, December.
  6. Joosung Lee, 2013. "Bargaining and Buyout," 2013 Papers ple701, Job Market Papers.
  7. Ju, Yuan, 2012. "Reject and renegotiate: The Shapley value in multilateral bargaining," Journal of Mathematical Economics, Elsevier, vol. 48(6), pages 431-436.
  8. Nicolás Porteiro, 2007. "An Efficient and Egalitarian Negotiation Procedure for Economies with Externalities," Social Choice and Welfare, Springer, vol. 28(1), pages 19-40, January.

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