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Noncooperative foundations of bargaining power in committees and the Shapley-Shubik index

  • Laruelle, Annick
  • Valenciano, Federico

In this paper we explore the noncooperative foundations of the bargaining power that a voting rule gives to each member of a committee that bargains in search of consensus over a set of feasible agreements under a voting rule. Assuming complete information, we model a variety of bargaining protocols and investigate their stationary subgame perfect equilibria. We show how the Shapley-Shubik index and other power indices can be interpreted as measures of 'bargaining power' that appear in this light as limit cases.

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Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 63 (2008)
Issue (Month): 1 (May)
Pages: 341-353

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Handle: RePEc:eee:gamebe:v:63:y:2008:i:1:p:341-353
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622836

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  1. Eraslan, Hulya & Merlo, Antonio, 2002. "Majority Rule in a Stochastic Model of Bargaining," Journal of Economic Theory, Elsevier, vol. 103(1), pages 31-48, March.
  2. Perez-Castrillo, David & Wettstein, David, 2001. "Bidding for the Surplus : A Non-cooperative Approach to the Shapley Value," Journal of Economic Theory, Elsevier, vol. 100(2), pages 274-294, October.
  3. Sergiu Hart & Andreu Mas-Colell, 1994. "Bargaining and value," Economics Working Papers 114, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 1995.
  4. Annick Laruelle & Federico Valenciano, 2006. "Bargaining in committees as an extension of Nash's bargaining theory," Post-Print halshs-00150523, HAL.
  5. Gul, Faruk, 1989. "Bargaining Foundations of Shapley Value," Econometrica, Econometric Society, vol. 57(1), pages 81-95, January.
  6. Juan Vidal-Puga, 2005. "A bargaining approach to the Owen value and the Nash solution with coalition structure," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 25(3), pages 679-701, 04.
  7. 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.
  8. Eraslan, Hulya, 2002. "Uniqueness of Stationary Equilibrium Payoffs in the Baron-Ferejohn Model," Journal of Economic Theory, Elsevier, vol. 103(1), pages 11-30, March.
  9. Ariel Rubinstein, 2010. "Perfect Equilibrium in a Bargaining Model," Levine's Working Paper Archive 661465000000000387, David K. Levine.
  10. Juan Vidal-Puga, 2005. "The Harsanyi paradox and the 'right to talk' in bargaining among coalitions," Game Theory and Information 0501005, EconWPA.
  11. Binmore, Ken, 2007. "Playing for Real: A Text on Game Theory," OUP Catalogue, Oxford University Press, number 9780195300574, December.
  12. Binmore, Ken & Osborne, Martin J. & Rubinstein, Ariel, 1992. "Noncooperative models of bargaining," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 7, pages 179-225 Elsevier.
  13. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  14. Robert J. Weber, 1979. "Subjectivity in the Valuation of Games," Cowles Foundation Discussion Papers 515, Cowles Foundation for Research in Economics, Yale University.
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