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Revocable Commitment and Sequential Bargaining

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  • Muthoo, Abhinay

Abstract

In this paper, the author presents a noncompetitive bargaining model which unifies the two well-known but distinct bargaining games due to J. Nash (1953) and A. Rubinstein (1982). Moreover, the author explores the robustness of the equilibrium set of these two bargaining games to a particular kind of perturbation in the commitment structure of the underlying extensive forms. From a different perspective and interpretation of the model, the author examines and studies the relationship between the equilibrium commitment levels and the costs to the bargainers of revoking their respective commitments. Copyright 1992 by Royal Economic Society.

Suggested Citation

  • Muthoo, Abhinay, 1992. "Revocable Commitment and Sequential Bargaining," Economic Journal, Royal Economic Society, vol. 102(411), pages 378-387, March.
  • Handle: RePEc:ecj:econjl:v:102:y:1992:i:411:p:378-87
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    Citations

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    Cited by:

    1. Mehrdad Vahabi, 2011. "The Economics of Destructive Power," Chapters,in: Handbook on the Economics of Conflict, chapter 5 Edward Elgar Publishing.
    2. repec:eee:gamebe:v:109:y:2018:i:c:p:1-20 is not listed on IDEAS
    3. repec:wsi:igtrxx:v:10:y:2008:i:03:n:s0219198908001935 is not listed on IDEAS
    4. Bester, Helmut & Sakovics, Jozsef, 2001. "Delegated bargaining and renegotiation," Journal of Economic Behavior & Organization, Elsevier, vol. 45(4), pages 459-473, August.
    5. Harold Houba, 2008. "Computing Alternating Offers And Water Prices In Bilateral River Basin Management," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 10(03), pages 257-278.
    6. Manzini, Paola, 1997. "Strategic wage bargaining with destructive power: the role of commitment," Economics Letters, Elsevier, vol. 54(1), pages 15-22, January.
    7. Mehrdad Vahabi, 2009. "A Critical Review of Strategic Conflict Theory and Socio-political Instability Models," Revue d'économie politique, Dalloz, vol. 119(6), pages 817-858.
    8. Corchon, Luis & Ritzberger, Klaus, 1992. "On the Non-Cooperative Foundations of Cooperative Bargaining," MPRA Paper 18461, University Library of Munich, Germany.
    9. Peter S. Burton, 2008. "Bargaining by Limiting Cooperation: Withholding Consent for the Level of a Public Good," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 10(4), pages 623-642, August.
    10. Juan J. Vidal-Puga, 2004. "Bargaining with commitments," International Journal of Game Theory, Springer;Game Theory Society, vol. 33(1), pages 129-144, January.
    11. Schotter, Andrew & Zheng, Wei & Snyder, Blaine, 2000. "Bargaining Through Agents: An Experimental Study of Delegation and Commitment," Games and Economic Behavior, Elsevier, vol. 30(2), pages 248-292, February.
    12. Gersbach, Hans & Schneider, Maik T., 2012. "Tax contracts, party bargaining, and government formation," Mathematical Social Sciences, Elsevier, vol. 64(2), pages 173-192.
    13. Britz Volker, 2010. "Optimal Value Commitment in Bilateral Bargaining," Research Memorandum 056, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    14. Britz, Volker, 2013. "Optimal value commitment in bilateral bargaining," Games and Economic Behavior, Elsevier, vol. 77(1), pages 345-351.
    15. Miettinen, Topi & Perea, Andrés, 2015. "Commitment in alternating offers bargaining," Mathematical Social Sciences, Elsevier, vol. 76(C), pages 12-18.
    16. Britz Volker, 2010. "Optimal Value Commitment in Bilateral Bargaining," Research Memorandum 013, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    17. Savita Kulkarni & Anirudh Tagat & Hansika Kapoor, 2016. "An experimental investigation of intra-household resource allocation in rural India," Working Papers PIERI 2016-20, PEP-PIERI.
    18. Amoros, Pablo & Moreno, Bernardo, 2006. "Bargaining and waning commitments," Economics Letters, Elsevier, vol. 92(3), pages 417-422, September.

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