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An n-person Rubinstein bargaining game

Author

Listed:
  • Torstensson, Pär

    (Department of Economics, Lund University)

Abstract

When Herrero (1985) extends Rubinstein's (1982) alternating-offers bargaining model to the case of three or more players any agreement can be supported as a subgame perfect equilibrium (SPE) outcome, given a sufficiently large discount factor. We show that this is not the case when players demand shares for themselves instead of proposing agreements to each other. Although it is possible to rule out agreements, the majority remains to be SPE outcomes.

Suggested Citation

  • Torstensson, Pär, 2005. "An n-person Rubinstein bargaining game," Working Papers 2005:39, Lund University, Department of Economics.
    • Handle: RePEc:hhs:lunewp:2005_039
    as

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    References listed on IDEAS

    as
    1. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
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    7. Yang, Jeong-Ae, 1992. "Another n-person bargaining game with a unique perfect equilibrium," Economics Letters, Elsevier, vol. 38(3), pages 275-277, March.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Multilateral bargaining; n-person bargaining; subgame perfect equilibria;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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