Oriol Tejada Carles Rafels (Universitat de Barcelona)
Abstract
We extend Rochfords (1983) notion of symmetrically pairwise-bargained equilibrium to assignment games with more than two sides. A symmetrically multilateral-bargained (SMB) allocation is a core allocation such that any agent is in equilibrium with respect to a negotiation process among all agents based on what every agent could receive -and use as a threat- in her preferred alternative matching to the optimal matching that is formed. We prove that, for balanced multi-sided assignment games, the set of SMB is always nonempty and that, unlike the two-sided case, it does not coincide in general with the kernel (Davis and Maschler, 1965). We also give an answer to an open question formulated by Rochford (1983) by introducing a kernel-based set that, together with the core, characterizes the set of SMB.
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Paper provided by Universitat de Barcelona. Espai de Recerca en Economia in its series Working Papers in Economics with number
216.
Length: 0 pages Date of creation: 2009 Date of revision: Handle: RePEc:bar:bedcje:2009216
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Find related papers by JEL classification: C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
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