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Oportunidades de comercio internacional eléctrico y reglas de reparto del beneficio modeladas por juegos de negociación repetidos

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  • Mario Ibarburu

    (Departamento de Economía, Facultad de Ciencias Sociales, Universidad de la República)

Abstract

International electricity spot trade between two countries is modeled as a sequence of bargaining games, one for each trade opportunity. Each game has a benefit per time unit and random duration. There is a correspondence between this trade game and the bargaining game for the partition of a pie studied by Rubinstein. If the game admits the possibility of “money burning”, actions by a player to destroy surplus to punish the other player’s rejection of an offer, each game admits multiple inefficient perfect Nash equilibria, with delay in the partition. Conditions are found for the existence of predefined agreements between the players, sustaining efficient immediate partition in each game, as an alternative to inefficient Nash equilibria in the sequence of games.

Suggested Citation

  • Mario Ibarburu, 2011. "Oportunidades de comercio internacional eléctrico y reglas de reparto del beneficio modeladas por juegos de negociación repetidos," Documentos de Trabajo (working papers) 3011, Department of Economics - dECON.
    • Handle: RePEc:ude:wpaper:3011
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    File URL: https://hdl.handle.net/20.500.12008/2223
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    References listed on IDEAS

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    1. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
    2. Avery Christopher & Zemsky Peter B., 1994. "Money Burning and Multiple Equilibria in Bargaining," Games and Economic Behavior, Elsevier, vol. 7(2), pages 154-168, September.
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    More about this item

    Keywords

    bargaining games; international trade; energy;
    All these keywords.

    JEL classification:

    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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