Sequential Share Bargaining
AbstractThis paper presents a new extension of the Rubinstein-St°ahl bargaining model to the case with n players, called sequential share bargaining. The bargaining protocol is natural and has as its main feature that the players’ shares in the cake are determined sequentially. The bargaining protocol requires unanimous agreement for proposals to be implemented. Unlike all existing bargaining protocols with unanimous agreement, the resulting game has unique subgame perfect equilibrium utilities for any value of the discount factor. In equilibrium, agreement is reached immediately. The results are therefore qualitatively the same as in the two player case. The result builds on an analysis of so-called one-dimensional bargaining problems. We show that also one-dimensional bargaining problems have unique subgame perfect equilibrium utilities for any value of the discount factor, and that also in one-dimensional bargaining problems agreement is reached immediately.
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Bibliographic InfoPaper provided by Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization in its series Research Memoranda with number 005.
Date of creation: 2007
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Other versions of this item:
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
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- Sang-Chul Suh & Quan Wen, 2003.
"Multi-Agent Bilateral Bargaining and the Nash Bargaining Solution,"
Vanderbilt University Department of Economics Working Papers
0306, Vanderbilt University Department of Economics.
- Suh, Sang-Chul & Wen, Quan, 2006. "Multi-agent bilateral bargaining and the Nash bargaining solution," Journal of Mathematical Economics, Elsevier, vol. 42(1), pages 61-73, February.
- Yang, Jeong-Ae, 1992. "Another n-person bargaining game with a unique perfect equilibrium," Economics Letters, Elsevier, vol. 38(3), pages 275-277, March.
- Erik Ansink & Hans-Peter Weikard, 2009.
"Sequential Sharing Rules for River Sharing Problems,"
2009.114, Fondazione Eni Enrico Mattei.
- Erik Ansink & Hans-Peter Weikard, 2012. "Sequential sharing rules for river sharing problems," Social Choice and Welfare, Springer, vol. 38(2), pages 187-210, February.
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