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On restricted bargaining sets

Author

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  • Javier Hervés-Estévez
  • Emma Moreno-García

Abstract

In this paper we analyze the behavior of bargaining sets in continuum economies when there are restrictions on the formation of coalitions. We provide several characterizations of Vind’s (J Math Econ 21:89–97, 1992 ) bargaining set in terms of its restricted versions, where not all the coalitions are formed. Moreover, we show that these equivalences do not hold for Mas-Colell’s (J Math Econ 18:129–139, 1989 ) bargaining set. These findings highlight the different nature of both notions of bargaining sets. Finally, we illustrate the impossibility of extrapolating our results to a more general setting. Copyright Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Javier Hervés-Estévez & Emma Moreno-García, 2015. "On restricted bargaining sets," International Journal of Game Theory, Springer;Game Theory Society, vol. 44(3), pages 631-645, August.
    • Handle: RePEc:spr:jogath:v:44:y:2015:i:3:p:631-645
    DOI: 10.1007/s00182-014-0447-5
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    References listed on IDEAS

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    1. Schjodt, Ulla & Sloth, Birgitte, 1994. "Bargaining Sets with Small Coalitions," International Journal of Game Theory, Springer;Game Theory Society, vol. 23(1), pages 49-55.
    2. Schmeidler, David, 1972. "A Remark on the Core of an Atomless Economy," Econometrica, Econometric Society, vol. 40(3), pages 579-580, May.
    3. Evren, Özgür & Hüsseinov, Farhad, 2008. "Theorems on the core of an economy with infinitely many commodities and consumers," Journal of Mathematical Economics, Elsevier, vol. 44(11), pages 1180-1196, December.
    4. Mas-Colell, Andreu, 1989. "An equivalence theorem for a bargaining set," Journal of Mathematical Economics, Elsevier, vol. 18(2), pages 129-139, April.
    5. Hervés-Beloso, Carlos & Moreno-Garci­a, Emma, 2008. "Competitive equilibria and the grand coalition," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 697-706, July.
    6. Vind, Karl, 1992. "Two characterizations of bargaining sets," Journal of Mathematical Economics, Elsevier, vol. 21(1), pages 89-97.
    7. Herves-Beloso, Carlos & Moreno-Garcia, Emma & Nunez-Sanz, Carmelo & Rui Pascoa, Mario, 2000. "Blocking Efficacy of Small Coalitions in Myopic Economies," Journal of Economic Theory, Elsevier, vol. 93(1), pages 72-86, July.
    8. Marialaura Pesce, 2010. "On mixed markets with asymmetric information," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 45(1), pages 23-53, October.
    9. Grodal, Birgit, 1972. "A Second Remark on the Core of an Atomless Economy," Econometrica, Econometric Society, vol. 40(3), pages 581-583, May.
    10. Vind, Karl, 1972. "A Third Remark on the Core of an Atomless Economy," Econometrica, Econometric Society, vol. 40(3), pages 585-586, May.
    11. Ostroy, Joseph M & Zame, William R, 1994. "Nonatomic Economies and the Boundaries of Perfect Competition," Econometrica, Econometric Society, vol. 62(3), pages 593-633, May.
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    Cited by:

    1. Hervés-Estévez, Javier & Moreno-García, Emma, 2015. "A bargaining-Walras approach for finite economies," MPRA Paper 69802, University Library of Munich, Germany.
    2. Niccolò Urbinati, 2020. "Walrasian objection mechanism and Mas Colell's bargaining set in economies with many commodities," Working Papers 07, Department of Management, Università Ca' Foscari Venezia.
    3. Chiara Donnini & Marialaura Pesce, 2021. "Fairness and fuzzy coalitions," International Journal of Game Theory, Springer;Game Theory Society, vol. 50(4), pages 1033-1052, December.
    4. Niccolò Urbinati, 2023. "The Walrasian objection mechanism and Mas-Colell’s bargaining set in economies with many commodities," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 76(1), pages 45-68, July.
    5. Bhowmik, Anuj & Saha, Sandipan, 2023. "Restricted bargaining sets in a club economy," MPRA Paper 119210, University Library of Munich, Germany.

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    More about this item

    Keywords

    Bargaining sets; Coalitions; Core; Veto mechanism; D51; D11; D00;
    All these keywords.

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D00 - Microeconomics - - General - - - General

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