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 a frictionless world is not robusto 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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Other versions of this item:
- Klaus Ritzberger, 1992. "On the non-cooperative foundations of cooperative bargaining," Working Papers. Serie AD 1992-06, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- 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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