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Multilateral bargaining and Walrasian equilibrium

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  • Penta, Antonio

Abstract

A class of bargaining games in which agents bargain over prices and maximum trading constraints is considered: It is proved that all the Stationary Subgame Perfect Equilibria of these games implement Walrasian allocations as the bargaining frictions vanish. The result holds for any number of agents and is robust to different specifications of the bargaining process.

Suggested Citation

  • Penta, Antonio, 2011. "Multilateral bargaining and Walrasian equilibrium," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 417-424.
  • Handle: RePEc:eee:mateco:v:47:y:2011:i:4:p:417-424
    DOI: 10.1016/j.jmateco.2011.03.002
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    References listed on IDEAS

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    Cited by:

    1. Elliott, M. & Golub, B., 2018. "A Network Approach to Public Goods," Cambridge Working Papers in Economics 1813, Faculty of Economics, University of Cambridge.

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