Inner Core, Asymmetric Nash Bargaining Solutions and Competitive Payoffs
AbstractWe investigate the relationship between the inner core and asymmetric Nash bargaining solutions for n-person bargaining games with complete information. We show that the set of asymmetric Nash bargaining solutions for different strictly positive vectors of weights coincides with the inner core if all points in the underlying bargaining set are strictly positive. Furthermore, we prove that every bargaining game is a market game. By using the results of Qin (1993) we conclude that for every possible vector of weights of the asymmetric Nash bargaining solution there exists an economy that has this asymmetric Nash bargaining solution as its unique competitive payoff vector. We relate the literature of Trockel (1996, 2005) with the ideas of Qin (1993). Our result can be seen as a market foundation for every asymmetric Nash bargaining solution in analogy to the results on non-cooperative foundations of cooperative games.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Bielefeld University, Center for Mathematical Economics in its series Working Papers with number 453.
Length: 28 pages
Date of creation: Aug 2011
Date of revision:
Inner Core; Asymmetric Nash Bargaining Solution; Competitive Payoffs; Market Games;
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
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-09-16 (All new papers)
- NEP-GTH-2011-09-16 (Game Theory)
- NEP-MIC-2011-09-16 (Microeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- DE CLIPPEL, Geoffroy & MINELLI, Enrico, .
"Two remarks on the inner core,"
CORE Discussion Papers RP
-1763, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Walter Trockel, .
"Core-Equivalence for the Nash Bargaining Solution,"
03-21, University of Copenhagen. Department of Economics.
- Walter Trockel, 2000. "Implementations of the Nash solution based on its Walrasian characterization," Economic Theory, Springer, vol. 16(2), pages 277-294.
- Sonja Brangewitz & Jan-Philip Gamp, 2011. "Competitive Outcomes and the Core of TU Market Games," Working Papers 454, Bielefeld University, Center for Mathematical Economics.
- Sun,N. & Trockel,W. & Yang,Z., 2004.
"Competitive outcomes and endogenous coalition formation in an n-person game,"
358, Bielefeld University, Center for Mathematical Economics.
- Sun, Ning & Trockel, Walter & Yang, Zaifu, 2008. "Competitive outcomes and endogenous coalition formation in an n-person game," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 853-860, July.
- Sun, N. & Trockel, W. & Yang, Z.F., 2004. "Competitive Outcomes and Endogenous Coalition Formation in an n-Person Game," Discussion Paper 2004-93, Tilburg University, Center for Economic Research.
- Olivier Compte & Philippe Jehiel, 2010.
"The Coalitional Nash Bargaining Solution,"
Econometric Society, vol. 78(5), pages 1593-1623, 09.
- Trockel, Walter, 1996. "A Walrasian approach to bargaining games," Economics Letters, Elsevier, vol. 51(3), pages 295-301, June.
- Sonja Brangewitz & Jan-Philip Gamp, 2011. "Competitive Outcomes and the Inner Core of NTU Market Games," Working Papers 449, Bielefeld University, Center for Mathematical Economics.
- Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
- Shapley, Lloyd S. & Shubik, Martin, 1969. "On market games," Journal of Economic Theory, Elsevier, vol. 1(1), pages 9-25, June.
- Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
- Qin Cheng-Zhong, 1994. "The Inner Core of an n-Person Game," Games and Economic Behavior, Elsevier, vol. 6(3), pages 431-444, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dr. Frederik Herzberg).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.