Alternating Bid Bargaining With A Smallest Money Unit
AbstractIn a seminal paper, Ariel Rubinstein has shown that impatience implies determinateness of the 2-person bargaining problem. In this note we show that this result depends also on the assumption that the set of alternatives is a continuum. If the pie can be divided only in finitely many different ways, (for example, because the pie is an amount of money and there is a smallest money unit), any partition can be obtained as the result of a subgame perfect equilibrium if the time interval between successive offers is sufficiently small.
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Bibliographic InfoPaper provided by Tilburg - Center for Economic Research in its series Papers with number 8932.
Length: 15 pages
Date of creation: 1989
Date of revision:
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bargaining ; economic models ; game theory;
Other versions of this item:
- Van Damme, Eric & Selten, Reinhard & Winter, Eyal, 1990. "Alternating bid bargaining with a smallest money unit," Games and Economic Behavior, Elsevier, vol. 2(2), pages 188-201, June.
- Erik van Damme & Reinhard Selten & Eyal Winter, 1989. "Alternating Bid Bargaining with a Smallest Money Unit," Discussion Paper Serie A 253, University of Bonn, Germany.
- Damme, E.E.C. van & Selten, R. & Winter, E., 1990. "Alternating bid bargaining with a smallest money unit," Open Access publications from Tilburg University urn:nbn:nl:ui:12-154420, Tilburg University.
- Damme, E.E.C. van & Selten, R. & Winter, E., 1989. "Alternating bid bargaining with a smallest money unit," Discussion Paper 1989-32, Tilburg University, Center for Economic Research.
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.:
- Ariel Rubinstein, 2010.
"Perfect Equilibrium in a Bargaining Model,"
Levine's Working Paper Archive
252, David K. Levine.
- 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.
- Sobel, Joel & Takahashi, Ichiro, 1983. "A Multistage Model of Bargaining," Review of Economic Studies, Wiley Blackwell, vol. 50(3), pages 411-26, July.
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