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Collusion, Exclusion, and Inclusion in Random-Order Bargaining

  • Ilya Segal

    (Stanford University)

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    This paper examines three types of contracts in a cooperative game solved by a random-order value (such as Shapley value). An exclusive contract delays the contribution of the excluded player j until the arrival of the excluding player i. It is profitable when j is complementary to other players in the absence of i. An inclusive contract brings the included player j forward to player i's arrival. It is profitable when j is substitutable to other players in the presence of i. Finally, a collusive contract between i and j can be modeled as a proxy agreement under which i always brings j with him. The profit from collusion therefore equals to the sum of profits from exclusion and inclusion. It is positive when i reduces the complementarity between j and the other players.

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    Paper provided by Econometric Society in its series Econometric Society World Congress 2000 Contributed Papers with number 0738.

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    Date of creation: 01 Aug 2000
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    Handle: RePEc:ecm:wc2000:0738
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    1. Guesnerie, Roger, 1977. "Monopoly, syndicate, and shapley value: About some conjectures," Journal of Economic Theory, Elsevier, vol. 15(2), pages 235-251, August.
    2. Gul, Faruk, 1989. "Bargaining Foundations of Shapley Value," Econometrica, Econometric Society, vol. 57(1), pages 81-95, January.
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    4. Gardner, Roy, 1977. "Shapley value and disadvantageous monopolies," Journal of Economic Theory, Elsevier, vol. 16(2), pages 513-517, December.
    5. Hart, Oliver D. & Moore, John, 1990. "Property Rights and the Nature of the Firm," Scholarly Articles 3448675, Harvard University Department of Economics.
    6. Horn, Henrik & Wolinsky, Asher, 1988. "Worker Substitutability and Patterns of Unionisation," Economic Journal, Royal Economic Society, vol. 98(391), pages 484-97, June.
    7. Aghion, Philippe & Dewatripont, Mathias & Rey, Patrick, 1994. "Renegotiation Design with Unverifiable Information," Econometrica, Econometric Society, vol. 62(2), pages 257-82, March.
    8. Sergiu Hart & Andreu Mas-Colell, 1994. "Bargaining and value," Economics Working Papers 114, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 1995.
    9. Patrick Legros, 1987. "Disadvantageous syndicates and stable cartels: the case of the nucleolus," ULB Institutional Repository 2013/7046, ULB -- Universite Libre de Bruxelles.
    10. Christopher M. Snyder, 1996. "A Dynamic Theory of Countervailing Power," RAND Journal of Economics, The RAND Corporation, vol. 27(4), pages 747-769, Winter.
    11. Stole, Lars A & Zwiebel, Jeffrey, 1996. "Intra-firm Bargaining under Non-binding Contracts," Review of Economic Studies, Wiley Blackwell, vol. 63(3), pages 375-410, July.
    12. Ray, D. & Vohra, R., 1993. "Equilibrium Binding Agreements," Papers 21, Boston University - Department of Economics.
    13. Pradeep Dubey & Robert J. Weber, 1977. "Probabilistic Values for Games," Cowles Foundation Discussion Papers 471, Cowles Foundation for Research in Economics, Yale University.
    14. Stole, Lars A & Zwiebel, Jeffrey, 1996. "Organizational Design and Technology Choice under Intrafirm Bargaining," American Economic Review, American Economic Association, vol. 86(1), pages 195-222, March.
    15. Haller, Hans, 1994. "Collusion Properties of Values," International Journal of Game Theory, Springer, vol. 23(3), pages 261-81.
    16. Aumann, Robert J., 1973. "Disadvantageous monopolies," Journal of Economic Theory, Elsevier, vol. 6(1), pages 1-11, February.
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