An exact non-cooperative support for the sequential Raiffa solution
This article provides an exact non-cooperative foundation of the sequential Raiffa solution for two-person bargaining games. Based on an approximate foundation due to Myerson (1991) for any two-person bargaining game (S, d) an extensive form game GS,d is defined that has an infinity of weakly subgame perfect equilibria whose payoff vectors coincide with that of the sequential Raiffa solution of (S, d). Moreover all those equilibria share the same equilibrium path consisting of proposing the Raiffa solution and accepting it in the first stage of the game. By a modification of GS,d the analogous result is provided for subgame perfect equilibria. These results immediately extend to implementation of a sequential Raiffa (solution based) social choice rule in subgame perfect equilibrium.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bergin, James & Duggan, John, 1999. "An Implementation-Theoretic Approach to Non-cooperative Foundations," Journal of Economic Theory, Elsevier, vol. 86(1), pages 50-76, May.
- Walter Trockel, 2002.
"Integrating the Nash program into mechanism theory,"
Review of Economic Design,
Springer;Society for Economic Design, vol. 7(1), pages 27-43.
- Trockel,W., 1999. "Integrating the Nash program into mechanism theory," Center for Mathematical Economics Working Papers 305, Center for Mathematical Economics, Bielefeld University.
- Haake, Claus-Jochen & Trockel, Walter, 2011.
"On Maskin monotonicity of solution based social choice rules,"
Center for Mathematical Economics Working Papers
393, Center for Mathematical Economics, Bielefeld University.
- Claus-Jochen Haake & Walter Trockel, 2010. "On Maskin monotonicity of solution based social choice rules," Review of Economic Design, Springer;Society for Economic Design, vol. 14(1), pages 17-25, March.
- Roberto Serrano, 1996.
"A comment on the Nash program and the theory of implementation,"
Economics Working Papers
161, Department of Economics and Business, Universitat Pompeu Fabra.
- Serrano, Roberto, 1997. "A comment on the Nash program and the theory of implementation," Economics Letters, Elsevier, vol. 55(2), pages 203-208, August.
- Trockel, Walter, 2011. "An axiomatization of the sequential Raiffa solution," Center for Mathematical Economics Working Papers 425, Center for Mathematical Economics, Bielefeld University.
- Roberto Serrano, 2004.
"Fifty Years of the Nash Program, 1953-2003,"
2004-20, Brown University, Department of Economics.
- Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
- Salonen, Hannu, 1988. "Decomposable solutions for N -- person bargaining games," European Journal of Political Economy, Elsevier, vol. 4(3), pages 333-347.
- Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
- Emily Tanimura & Sylvie Thoron, 2008. "A mechanism for solving bargaining problems between risk averse players," Working Papers halshs-00325695, HAL.
- Walter Trockel, 2000. "Implementations of the Nash solution based on its Walrasian characterization," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 16(2), pages 277-294.
When requesting a correction, please mention this item's handle: RePEc:eee:mateco:v:47:y:2011:i:1:p:77-83. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
If references are entirely missing, you can add them using this form.