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On bargaining sets for finite economies

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  • Hervés-Estévez, Javier
  • Moreno-García, Emma

Abstract

We define a bargaining set for finite economies using Aubin’s veto mechanism and show its coincidence with the set of Walrasian allocations. Then, we rewrite our notion in terms of replicated economies showing that, in contrast with Anderson, Trockel and Zhou’s (1997) non-convergence result, this Edgeworth bargaining set shrinks to the set of Walrasian allocations.

Suggested Citation

  • Hervés-Estévez, Javier & Moreno-García, Emma, 2014. "On bargaining sets for finite economies," MPRA Paper 62303, University Library of Munich, Germany, revised 18 Jul 2014.
    • Handle: RePEc:pra:mprapa:62303
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    References listed on IDEAS

    as
    1. Schjodt, Ulla & Sloth, Birgitte, 1994. "Bargaining Sets with Small Coalitions," International Journal of Game Theory, Springer;Game Theory Society, vol. 23(1), pages 49-55.
    2. Carlos Hervés-Beloso & Emma Moreno-García & Nicholas C. Yannelis, 2006. "Characterization and incentive compatibility of Walrasian expectations equilibrium in infinite dimensional commodity spaces," Studies in Economic Theory, in: Charalambos D. Aliprantis & Rosa L. Matzkin & Daniel L. McFadden & James C. Moore & Nicholas C. Yann (ed.), Rationality and Equilibrium, pages 119-139, Springer.
    3. Garcia-Cutrin, Javier & Herves-Beloso, Carlos, 1993. "A Discrete Approach to Continuum Economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(3), pages 577-583, July.
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    5. Robert M. Anderson & Walter Trockel & Lin Zhou, 1997. "Nonconvergence of the Mas-Colell and Zhou Bargaining Sets," Econometrica, Econometric Society, vol. 65(5), pages 1227-1240, September.
    6. Dutta, Bhaskar & Ray, Debraj & Sengupta, Kunal & Vohra, Rajiv, 1989. "A consistent bargaining set," Journal of Economic Theory, Elsevier, vol. 49(1), pages 93-112, October.
    7. Hervés-Beloso, Carlos & Moreno-García, Emma, 2009. "Walrasian analysis via two-player games," Games and Economic Behavior, Elsevier, vol. 65(1), pages 220-233, January.
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    9. Wenbo Yang & Jiuqiang Liu & Xiaodong Liu, 2011. "Aubin cores and bargaining sets for convex cooperative fuzzy games," International Journal of Game Theory, Springer;Game Theory Society, vol. 40(3), pages 467-479, August.
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    More about this item

    Keywords

    Bargaining sets; coalitions; core; veto mechanism.;
    All these keywords.

    JEL classification:

    • D00 - Microeconomics - - General - - - General
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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