Collective Bargaining and Walrasian Equilibrium
AbstractThis paper contributes to the research agenda on non-cooperative foundations ofWalrasian Equilibrium. A class of barganing games in which agents bargain over prices and maximum trading con- straints is considered: It is proved that all the Stationary Sub- game Perfect Equilibria of these games implement Walrasian al- locations as the bargaining frictions vanish. The main novelty of the result is twofold: (1) it holds for any number of agents; (2) it is robust to di¤erent speci�cations of the bargaining process.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 10260.
Date of creation: May 2007
Date of revision: Sep 2007
strategic bargaining; Walrasian Equilibrium;
Find related papers by JEL classification:
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-09-05 (All new papers)
- NEP-GTH-2008-09-05 (Game Theory)
- NEP-LAB-2008-09-05 (Labour Economics)
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