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Sequential bargaining with pure common values and incomplete information on both sides

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  • Schweinzer, Paul

Abstract

We study the alternating-offer bargaining problem of sharing a common value pie under incomplete information on both sides and no depreciation between two identical players. We characterise the essentially unique perfect Bayesian equilibrium of this game which turns out to be in gradually increasing offers.

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Bibliographic Info

Paper provided by Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich in its series Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems with number 136.

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Date of creation: Jun 2006
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Handle: RePEc:trf:wpaper:136

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Keywords: Gradual bargaining; Common values; Incomplete information; Repeated games;

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  1. Solan, Eilon & Vieille, Nicolas, 2001. "Quitting Games," Economics Papers from University Paris Dauphine 123456789/6017, Paris Dauphine University.
  2. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
  3. Kennan, J. & Wilson, R., 1991. "Bargaining with Private Information," Working Papers 90-01rev, University of Iowa, Department of Economics.
  4. Nicola Persico, 1997. "Information Acquisition in Auctions," UCLA Economics Working Papers 762, UCLA Department of Economics.
  5. Ausubel, Lawrence M. & Cramton, Peter & Deneckere, Raymond J., 2002. "Bargaining with incomplete information," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 3, chapter 50, pages 1897-1945 Elsevier.
  6. Susan Athey & Jonathan Levin, 1998. "The Value of Information In Monotone Decision Problems," Working papers 98-24, Massachusetts Institute of Technology (MIT), Department of Economics.
  7. Eilon Solan & Nicolas Vieille, 1998. "Quitting Games," Discussion Papers 1227, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  8. Mertens, J.-F., 1986. "Repeated games," CORE Discussion Papers 1986024, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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