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Non-cooperative bargaining and the incomplete informational core

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  • Okada, Akira

Abstract

In an exchange economy with incomplete information, the signaling core is defined by the set of state-contingent allocations to which no coalitions object under informational leakage through proposals by informed agents. An objection underlying the signaling core is supported by a sequential equilibrium of an ultimatum bargaining game with an informed proposer. We prove that a stationary sequential equilibrium allocation in a Rubinstein-type sequential bargaining game with a restart rule belongs to the signaling core if the belief of players satisfies a self-selection property.

Suggested Citation

  • Okada, Akira, 2012. "Non-cooperative bargaining and the incomplete informational core," Journal of Economic Theory, Elsevier, vol. 147(3), pages 1165-1190.
  • Handle: RePEc:eee:jetheo:v:147:y:2012:i:3:p:1165-1190
    DOI: 10.1016/j.jet.2012.01.009
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Okada, Akira, 2016. "A non-cooperative bargaining theory with incomplete information: Verifiable types," Journal of Economic Theory, Elsevier, vol. 163(C), pages 318-341.
    2. Françoise Forges & Roberto Serrano, 2013. "Cooperative Games With Incomplete Information: Some Open Problems," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 15(02), pages 1-17.
    3. repec:eee:gamebe:v:103:y:2017:i:c:p:67-82 is not listed on IDEAS
    4. repec:dau:papers:123456789/8158 is not listed on IDEAS
    5. Akira Okada, 2015. "Cooperation and Institution in Games," The Japanese Economic Review, Japanese Economic Association, vol. 66(1), pages 1-32, March.
    6. Chatterjee, Kalyan & Mitra, Manipushpak & Mukherjee, Conan, 2017. "Bidding rings: A bargaining approach," Games and Economic Behavior, Elsevier, vol. 103(C), pages 67-82.
    7. Askoura, Y., 2015. "An interim core for normal form games and exchange economies with incomplete information," Journal of Mathematical Economics, Elsevier, vol. 58(C), pages 38-45.
    8. repec:spr:sochwe:v:49:y:2017:i:1:d:10.1007_s00355-017-1057-5 is not listed on IDEAS

    More about this item

    Keywords

    Core; Exchange economy; Incomplete information; Information transmission; Non-cooperative bargaining; Signaling;

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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