On continuous-time Markov processes in bargaining
For bilateral stochastic bargaining procedures embedded in stable homogeneous continuous-time Markov processes, we show unusual limit results when time between rounds vanish. Standard convergence results require that some states are instantaneous.
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References listed on IDEAS
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- Roth, Alvin E, 1985. "A Note on Risk Aversion in a Perfect Equilibrium Model of Bargaining," Econometrica, Econometric Society, vol. 53(1), pages 207-11, January.
- Shaked, Avner & Sutton, John, 1984. "Involuntary Unemployment as a Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 52(6), pages 1351-64, November.
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"Perfect Equilibrium in a Bargaining Model,"
Econometric Society, vol. 50(1), pages 97-109, January.
- Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
- repec:cup:cbooks:9780521576475 is not listed on IDEAS
- Merlo, Antonio & Wilson, Charles A, 1995. "A Stochastic Model of Sequential Bargaining with Complete Information," Econometrica, Econometric Society, vol. 63(2), pages 371-99, March.
- Houba, Harold, 2007.
"Alternating offers in economic environments,"
Elsevier, vol. 96(3), pages 316-324, September.
- Hoel, Michael, 1987. "Bargaining games with a random sequence of who makes the offers," Economics Letters, Elsevier, vol. 24(1), pages 5-9.
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