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Uniqueness In Random-Proposer Multilateral Bargaining

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  • HUIBIN YAN

    ()
    (Department of Economics, University of California at Santa Cruz, Santa Cruz, CA 95064, USA)

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    Abstract

    Solution uniqueness is an important property for a bargaining model. Rubinstein's (1982) seminal 2-person alternating-offer bargaining game has a unique Subgame Perfect Equilibrium outcome. Is it possible to obtain uniqueness results in the much enlarged setting of multilateral bargaining with a characteristic function? This paper investigates a random-proposer model first studied in Okada (1993) in which each period players have equal probabilities of being selected to make a proposal and bargaining ends after one coalition forms. Focusing on transferable utility environments and Stationary Subgame Perfect Equilibria (SSPE), we find ex ante SSPE payoff uniqueness for symmetric and convex characteristic functions, considerably expanding the conditions under which this model is known to exhibit SSPE payoff uniqueness. Our model includes as a special case a variant of the legislative bargaining model in Baron and Ferejohn (1989), and our results imply (unrestricted) SSPE payoff uniqueness in this case.

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    Bibliographic Info

    Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.

    Volume (Year): 11 (2009)
    Issue (Month): 04 ()
    Pages: 407-417

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    Handle: RePEc:wsi:igtrxx:v:11:y:2009:i:04:p:407-417

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    Related research

    Keywords: Random proposer; multilateral bargaining; unique; coalition; C72;

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    Cited by:
    1. Eraslan, Hülya & McLennan, Andrew, 2013. "Uniqueness of stationary equilibrium payoffs in coalitional bargaining," Journal of Economic Theory, Elsevier, vol. 148(6), pages 2195-2222.
    2. Le Breton, Michel & Montero, Maria & Zaporozhets, Vera, 2012. "Voting power in the EU council of ministers and fair decision making in distributive politics," Mathematical Social Sciences, Elsevier, vol. 63(2), pages 159-173.

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