Nonconvergence of the Mas-Colell and Zhou Bargaining Sets

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Nonconvergence of the Mas-Colell and Zhou Bargaining Sets

Author Info

Robert M. Anderson and Walter Trockel and Lin Zhou.

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Abstract

In an nontransferable utility (NTU) exchange economy with a continuum of agents, the Mas- Colell bargaining set coincides with the set of Walrasian equilibria. In this paper, we show that the Mas-Colell bargaining set, as well as a smaller bargaining set due to Zhou, may fail to converge to competitive outcomes in large finite NTU exchange economies.

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Paper provided by University of California at Berkeley in its series Economics Working Papers with number 94-224.

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Date of creation: 01 Jan 1994
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Handle: RePEc:ucb:calbwp:94-224

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Article
- 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.
Paper
- Robert M. Anderson & Walter Tockel & Lin Zhou, 1994. "Nonconvergence of the Mas-Colell and Zhou Bargaining Sets," Game Theory and Information 9403001, EconWPA. [Downloadable!]

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Chiaki Hara, 2004. "Bargaining Set and Anonymous Core without the Monotonicity Assumption," KIER Working Papers 599, Kyoto University, Institute of Economic Research. [Downloadable!]
Sun, N. & Trockel, W. & Yang, Z., 2004. "Competitive outcomes and endogenous coalition formation in an n-person game," Discussion Paper 93, Tilburg University, Center for Economic Research. [Downloadable!]
Other versions:
- Sun,N. & Trockel,W. & Yang,Z., 2004. "Competitive outcomes and endogenous coalition formation in an n-person game," Working Papers 358, Bielefeld University, Institute of Mathematical Economics. [Downloadable!]
- Sun, Ning & Trockel, Walter & Yang, Zaifu, 2008. "Competitive outcomes and endogenous coalition formation in an n-person game," Journal of Mathematical Economics, Elsevier, vol. 44(7-8), pages 853-860, July. [Downloadable!] (restricted)
Roberto Serrano & Rajiv Vohra & Oscar Volij, 1999. "On the Failure of Core Convergence in Economies with Asymmetric Information," Economic theory and game theory 011, Oscar Volij. [Downloadable!]
Other versions:
- Roberto Serrano & Rajiv Vohra & Oscar Volij, 1999. "On the Failure of Core Convergence in Economies with Asymmetric Information," Working Papers 99-22, Brown University, Department of Economics. [Downloadable!]
- Roberto Serrano & Rajiv Vohra & Oscar Volij, 2000. "On the Failure of Core Convergence in Economies with Asymmetric Information," Econometric Society World Congress 2000 Contributed Papers 0141, Econometric Society. [Downloadable!]
- Roberto Serrano & Rajiv Vohra & Oscar Volij, 2001. "On the Failure of Core Convergence in Economies with Asymmetric Information," Econometrica, Econometric Society, vol. 69(6), pages 1685-1696, November. [Downloadable!] (restricted)

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