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On the possibility of stable renegotiation. A note

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  • Ferreira, José Luis

Abstract

Van Damme (Oct 87) claims that renegotiation and stability may be mutually inconsistent concepts. This note shows that this claim may be incorrect and proposes a way to restore the compatibility of these two concepts that, in general, do not apply in the same context.

Suggested Citation

  • Ferreira, José Luis, 1993. "On the possibility of stable renegotiation. A note," UC3M Working papers. Economics 2904, Universidad Carlos III de Madrid. Departamento de Economía.
    • Handle: RePEc:cte:werepe:2904
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    References listed on IDEAS

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    1. Farrell, Joseph & Maskin, Eric, 1989. "Renegotiation in repeated games," Games and Economic Behavior, Elsevier, vol. 1(4), pages 327-360, December.
    2. Kohlberg, Elon & Mertens, Jean-Francois, 1986. "On the Strategic Stability of Equilibria," Econometrica, Econometric Society, vol. 54(5), pages 1003-1037, September.
    3. Evans, Robert & Maskin, Eric, 1989. "Efficient renegotiation--proof equilibria in repeated games," Games and Economic Behavior, Elsevier, vol. 1(4), pages 361-369, December.
    4. Douglas Bernheim, B. & Ray, Debraj, 1989. "Collective dynamic consistency in repeated games," Games and Economic Behavior, Elsevier, vol. 1(4), pages 295-326, December.
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    Keywords

    Renegotiation-proof equilibrium;

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