Multilateral non-cooperative bargaining in a general utility space
We consider an n-player bargaining problem where the utility possibility set is compact, convex, and stricly comprehensive. We show that a stationary subgame perfect Nash equilibrium exists, and that, if the Pareto surface is differentiable, all such equilibria converge to the Nash bargaining solution as the length of a time period between offers goes to zero. Without the differentiability assumption, convergence need not hold.
(This abstract was borrowed from another version of this item.)
Volume (Year): 39 (2010)
Issue (Month): 4 (October)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/economic+theory/journal/182/PS2|
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.:
- Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
- Kultti, Klaus & Vartiainen, Hannu, 2007. "Von Neumann-Morgenstern stable sets, discounting, and Nash bargaining," Journal of Economic Theory, Elsevier, vol. 137(1), pages 721-728, November.
- Chatterjee, K. & Sabourian, H., 1997.
"Multiperson Bargaining and Strategic Complexity,"
Cambridge Working Papers in Economics
9733, Faculty of Economics, University of Cambridge.
- Suh, Sang-Chul & Wen, Quan, 2006.
"Multi-agent bilateral bargaining and the Nash bargaining solution,"
Journal of Mathematical Economics,
Elsevier, vol. 42(1), pages 61-73, February.
- Sang-Chul Suh & Quan Wen, 2003. "Multi-Agent Bilateral Bargaining and the Nash Bargaining Solution," Vanderbilt University Department of Economics Working Papers 0306, Vanderbilt University Department of Economics.
- Rubinstein, Ariel, 1982.
"Perfect Equilibrium in a Bargaining Model,"
Econometric Society, vol. 50(1), pages 97-109, January.
- Vijay Krishna & Roberto Serrano, 1996. "Multilateral Bargaining," Review of Economic Studies, Oxford University Press, vol. 63(1), pages 61-80.
- Lensberg, T. & Thomson, W., 1988. "Characterizing The Nash Bargaining Solution Without Pareto-Optimality," RCER Working Papers 136, University of Rochester - Center for Economic Research (RCER).
- Chae, Suchan & Yang, Jeong-Ae, 1988. "The unique perfect equilibrium of an n-person bargaining game," Economics Letters, Elsevier, vol. 28(3), pages 221-223.
- Thomson,William & Lensberg,Terje, 1989.
"Axiomatic Theory of Bargaining with a Variable Number of Agents,"
Cambridge University Press, number 9780521343831, Junio.
- Thomson,William & Lensberg,Terje, 2006. "Axiomatic Theory of Bargaining with a Variable Number of Agents," Cambridge Books, Cambridge University Press, number 9780521027038, Junio.
- Herings, P. Jean-Jacques & Predtetchinski, Arkadi, 2007.
"One-dimensional Bargaining with Markov Recognition Probabilities,"
044, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Herings, P. Jean-Jacques & Predtetchinski, Arkadi, 2010. "One-dimensional bargaining with Markov recognition probabilities," Journal of Economic Theory, Elsevier, vol. 145(1), pages 189-215, January.
When requesting a correction, please mention this item's handle: RePEc:spr:jogath:v:39:y:2010:i:4:p:677-689. 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: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.