On the non-cooperative foundations of cooperative bargaining
AbstractIn this note we challenge the non-cooperative foundations of cooperative bargaining solutions on the grounds that the limit operation for approaching frictionless world is not robust. We show that when discounting almost ceases to play a role, any individually rational payoff can be supported by some subgame perfect equilibrium. To select the "correct" point imposes excessive informational requirements on the analyst.
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Bibliographic InfoPaper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 1992-06.
Length: 24 pages
Date of creation: Nov 1992
Date of revision:
Publication status: Published by Ivie
Other versions of this item:
- Corchon, Luis & Ritzberger, Klaus, 1992. "On the Non-Cooperative Foundations of Cooperative Bargaining," MPRA Paper 18461, University Library of Munich, Germany.
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
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