Bargaining and cooperation in strategic form games with suspended realizations of threats
The Hart-and-Mas-Colell bargaining model (Hart and Mas-Colell in J Eur Econ Assoc 8:7–33, 2010 ), which is based on strategic form games, is a very promising model possessing many beautiful features. Nevertheless, it is not flawless: threats used in this model may behave quite counter-intuitive, and the expected payoffs may not be consistent with the min-max solution in two-person-zero-sum games. If we postpone realizations of all threats to the end of the game, the two problems can be solved simultaneously. This is exactly the 2(a) model suggested by Hart and Mas-Colell in the last section of their paper. I prove that the new model can guarantee the existence of an SP equilibrium in the two player case. For the three-or-more-player case, unfortunately, it is shown through a counter-example that SP equilibrium may not exist. Copyright Springer-Verlag 2013
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.
Volume (Year): 41 (2013)
Issue (Month): 2 (July)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/economic+theory/journal/355|
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.:
- Roberto Serrano, 2005.
"Fifty years of the Nash program, 1953-2003,"
Fundación SEPI, vol. 29(2), pages 219-258, May.
- Roberto Serrano, 2004. "Fifty Years of the Nash Program, 1953-2003," Working Papers 2004-20, Brown University, Department of Economics.
- Sergiu Hart, 2004. "A comparison of non-transferable utility values," Theory and Decision, Springer, vol. 56(2_2), pages 35-46, 02.
- Sergiu Hart, 2004. "A comparison of non-transferable utility values," Theory and Decision, Springer, vol. 56(1), pages 35-46, April.
- Sergiu Hart, 2003. "A Comparison of Non-Transferable Utility Values," Discussion Paper Series dp338, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
- Sergiu Hart & Andreu Mas-Colell, 2010. "Bargaining and Cooperation in Strategic Form Games," Journal of the European Economic Association, MIT Press, vol. 8(1), pages 7-33, 03.
- Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
- Sergiu Hart, 2013. "Adaptive Heuristics," World Scientific Book Chapters,in: Simple Adaptive Strategies From Regret-Matching to Uncoupled Dynamics, chapter 11, pages 253-287 World Scientific Publishing Co. Pte. Ltd..
- Sergiu Hart, 2005. "Adaptive Heuristics," Econometrica, Econometric Society, vol. 73(5), pages 1401-1430, 09.
- Sergiu Hart, 2004. "Adaptive Heuristics," Discussion Paper Series dp372, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
- Sergiu Hart, 2004. "Adaptive Heuristics," Levine's Bibliography 122247000000000471, UCLA Department of Economics.
- Dhillon, Amrita & Mertens, Jean Francois, 1996. "Perfect Correlated Equilibria," Journal of Economic Theory, Elsevier, vol. 68(2), pages 279-302, February.
- Dhillon, A. & Mertens, J.F., "undated". "Perfect correlated equilibria," CORE Discussion Papers RP 1197, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- DHILLON, Amrita & MERTENS, Jean-François, 1992. "Perfect correlated equilibria," CORE Discussion Papers 1992039, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Hart, Sergiu & Mas-Colell, Andreu, 1996. "Bargaining and Value," Econometrica, Econometric Society, vol. 64(2), pages 357-380, March.
When requesting a correction, please mention this item's handle: RePEc:spr:sochwe:v:41:y:2013:i:2:p:337-358. 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 you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.