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Non-cooperative bargaining and the incomplete informational core

  • Okada, Akira

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.

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Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 147 (2012)
Issue (Month): 3 ()
Pages: 1165-1190

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Handle: RePEc:eee:jetheo:v:147:y:2012:i:3:p:1165-1190
DOI: 10.1016/j.jet.2012.01.009
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622869

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