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Alternating Offers in Economic Environments

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Author Info
Harold Houba () (Faculty of Economics, Vrije Universiteit Amsterdam)

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Abstract

The Nash bargaining solution of a modified bargaining problem in the contract space yields the pair of stationary subgame perfect equilibrium proposals in the alternating offers model, also for positive time between proposals. As time vanishes, convergence to the Nash bargaining solution is immediate by the Maximum Theorem. Numerical implementation in standard optimization packages is straightforward.

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Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 05-064/1.

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Handle: RePEc:dgr:uvatin:20050064

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Web page: http://www.tinbergen.nl/

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Related research
Keywords: Bargaining; Negotiation; Alternating offers; subgame perfect equilibrium; Nash bargaining solution; Maximum Theorem; Applied General Equilibrium;

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Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

References listed on IDEAS
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.:

  1. Hoel, Michael, 1986. " Perfect Equilibria in Sequential Bargaining Games with Nonlinear Utility Functions," Scandinavian Journal of Economics, Blackwell Publishing, vol. 88(2), pages 383-400.
  2. Shaked, Avner & Sutton, John, 1984. "Involuntary Unemployment as a Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 52(6), pages 1351-64, November. [Downloadable!] (restricted)
  3. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January. [Downloadable!] (restricted)
  4. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April. [Downloadable!] (restricted)
  5. Ken Binmore & Ariel Rubinstein & Asher Wolinsky, 1986. "The Nash Bargaining Solution in Economic Modelling," RAND Journal of Economics, The RAND Corporation, vol. 17(2), pages 176-188, Summer. [Downloadable!] (restricted)
  6. Roemer, John E., 1988. "Axiomatic bargaining theory on economic environments," Journal of Economic Theory, Elsevier, vol. 45(1), pages 1-31, June. [Downloadable!] (restricted)
  7. Herrero, Maria Jose, 1989. "The nash program: Non-convex bargaining problems," Journal of Economic Theory, Elsevier, vol. 49(2), pages 266-277, December. [Downloadable!] (restricted)
  8. Harold Houba, . "Stochastic Orders of Proposing Players in Bargaining," Tinbergen Institute Discussion Papers 05-063/1, Tinbergen Institute. [Downloadable!]
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Cited by:
(explanations, 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.)

  1. Harold Houba, . "Computing Alternating Offers and Water Prices in Bilateral River Basin Management," Tinbergen Institute Discussion Papers 06-095/1, Tinbergen Institute. [Downloadable!]
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This page was last updated on 2009-12-10.

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