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Which Acceptable Agreements are Equilibria?

Author

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  • Thoron, Sylvie

    (GREQAM)

Abstract

I propose a normal form game of agreement formation in which each player's strategy is to say for each size of agreement whether it is acceptable or not. I propose a refinement, which guarantees that each one of these choices is self-enforcing. For general payoff functions, which exhibit positive externalities, I analyse situations in which symmetric players have the possibility to reach a unique agreement. I prove the uniqueness of this equilibrium. I give two specific examples: a cartel and an agreement to contribute to a public good.

Suggested Citation

  • Thoron, Sylvie, 2003. "Which Acceptable Agreements are Equilibria?," Royal Economic Society Annual Conference 2003 204, Royal Economic Society.
    • Handle: RePEc:ecj:ac2003:204
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    Cited by:

    1. is not listed on IDEAS
    2. Marc Escrihuela-Villar, 2009. "A note on cartel stability and endogenous sequencing with tacit collusion," Journal of Economics, Springer, vol. 96(2), pages 137-147, March.
    3. László Á. Kóczy, 2018. "Partition Function Form Games," Theory and Decision Library C, Springer, number 978-3-319-69841-0, December.

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    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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