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Alternating Bid Bargaining with a Smallest Money Unit

  • Erik van Damme
  • Reinhard Selten
  • Eyal Winter

In a seminal paper, Ariel Rubinstein has shown that impatience implies determinateness of the 2-person bargaining problem. In this note we show that this result depends also on the assumption that the set of alternatives is a continuum. If the pie can be divided only in finitely many different ways, (for example, because the pie is an amount of money and there is a smallest money unit), any partition can be obtained as the result of a subgame perfect equilibrium if the time interval between successive offers is sufficiently small.

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Paper provided by University of Bonn, Germany in its series Discussion Paper Serie A with number 253.

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Date of creation: Sep 1989
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Handle: RePEc:bon:bonsfa:253
Contact details of provider: Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany
Fax: +49 228 73 6884
Web page: http://www.bgse.uni-bonn.de

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