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Convergence of the Aumann-Davis-Maschler and Geanakoplos bargaining sets

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  • Robert M. Anderson

    (University of California, Department of Economics and Department of Mathematics, 549 Evans Hall # 3880, Berkeley, CA 94720-3880, USA)

Abstract

Geanakoplos [17] defined a notion of bargaining set, and proved that his bargaining set is approximately competitive in large finite transferable utility (TU) exchange economies with smooth preferences. Shapley and Shubik [26] showed that the Aumann-Davis-Maschler bargaining set is approximately competitive in replica sequences of TU exchange economies with smooth preferences. We extend Geanakoplos' result to nontransferable utility (NTU) exchange economies without smooth preferences, and we extend the Shapley and Shubik result to non-replica sequences of NTU exchange economies with smooth preferences.

Suggested Citation

  • Robert M. Anderson, 1997. "Convergence of the Aumann-Davis-Maschler and Geanakoplos bargaining sets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(1), pages 1-37.
  • Handle: RePEc:spr:joecth:v:11:y:1997:i:1:p:1-37
    Note: Received: November 11, 1996
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    More about this item

    JEL classification:

    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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