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Multilateral bargaining and Walrasian equilibrium

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  • Penta, Antonio

Abstract

A class of bargaining games in which agents bargain over prices and maximum trading constraints is considered: It is proved that all the Stationary Subgame Perfect Equilibria of these games implement Walrasian allocations as the bargaining frictions vanish. The result holds for any number of agents and is robust to different specifications of the bargaining process.

Suggested Citation

  • Penta, Antonio, 2011. "Multilateral bargaining and Walrasian equilibrium," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 417-424.
    • Handle: RePEc:eee:mateco:v:47:y:2011:i:4:p:417-424
    DOI: 10.1016/j.jmateco.2011.03.002
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    References listed on IDEAS

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    Cited by:

    1. Thomas, Charles J., 2018. "An alternating-offers model of multilateral negotiations," Journal of Economic Behavior & Organization, Elsevier, vol. 149(C), pages 269-293.
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    3. Dijkstra, Bouwe R. & Nentjes, Andries, 2020. "Pareto-Efficient Solutions for Shared Public Good Provision: Nash Bargaining versus Exchange-Matching-Lindahl," Resource and Energy Economics, Elsevier, vol. 61(C).

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