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Bargaining With Commitment Under An Uncertain Deadline

Author

Listed:
  • VICENT CALABUIG

    (University of Valencia, Campus dels Tarongers. Av/dels Tarongers s/n, Edifici Departamental Oriental, 46022 Valencia, Spain)

  • ANTONI CUNYAT

    (University of Valencia, Campus dels Tarongers. Av/dels Tarongers s/n, Edifici Departamental Oriental, 46022 Valencia, Spain)

  • GONZALO OLCINA

    (University of Valencia, Campus dels Tarongers. Av/dels Tarongers s/n, Edifici Departamental Oriental, 46022 Valencia, Spain)

Abstract

We consider an infinite horizon bargaining game in which a deadline can arise with positive probability and where players possess an endogenous commitment device. We show that for any truncation of the game, the equilibrium agreement can only take place if the deadline arises within this finite horizon. Since the deadline is an uncertain event, the equilibrium exhibits agreements which are delayed with positive probability.

Suggested Citation

  • Vicent Calabuig & Antoni Cunyat & Gonzalo Olcina, 2006. "Bargaining With Commitment Under An Uncertain Deadline," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 8(04), pages 525-532.
    • Handle: RePEc:wsi:igtrxx:v:08:y:2006:i:04:n:s0219198906001089
    DOI: 10.1142/S0219198906001089
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    More about this item

    Keywords

    Bargaining; endogenous commitment; delays; uncertain deadline; JEL Classification: C78;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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