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Efficient equilibrium side contracts

Author

Listed:
  • Akira Yamada

    (Graduate School of Economics, Hitotsubashi University)

Abstract

We analyze two-stage games where players may make binding offers of schemes for side payment acceptance (or rejection) as well as those for side payments before choosing actions. We find that any set of efficient actions maximizing the total payoff is played on an equilibrium path of the two-stage game when such bilateral contracts on side payments are interdependent.

Suggested Citation

  • Akira Yamada, 2003. "Efficient equilibrium side contracts," Economics Bulletin, AccessEcon, vol. 3(6), pages 1-7.
    • Handle: RePEc:ebl:ecbull:eb-03c70004
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    File URL: http://www.accessecon.com/pubs/EB/2003/Volume3/EB-03C70004A.pdf
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    Cited by:

    1. John Kleppe & Ruud Hendrickx & Peter Borm & Ignacio García-Jurado & Gloria Fiestras-Janeiro, 2010. "Transfers, contracts and strategic games," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 18(2), pages 481-492, December.
    2. Francesco Angelini & Guido Candela & Massimiliano Castellani, 2020. "Households production in State and stateless societies: three tales and one letter," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 67(1), pages 31-45, March.
    3. Kleppe, J., 2010. "Modelling interactive behaviour, and solution concepts," Other publications TiSEM b9b96884-5761-48f0-9ee4-4, Tilburg University, School of Economics and Management.

    More about this item

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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