Bargaining, Coalitions and Competition
We study a decentralized matching model in a large exchange economy, in which trade takes place through non--cooperative bargaining in coalitions of finite size. Under essentially the same conditions of core equivalence, we show that the strategic equilibrium outcomes of our model coincide with the Walrasian allocations of the economy. Our method of proof exploits equivalence results between the core and Walrasian equilibria. Our model relaxes differentiability and convexity of preferences thereby covering the case of indivisible goods.
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|Date of creation:||01 Jan 2000|
|Date of revision:|
|Publication status:||Published in Economic Theory 2000, vol. 15, pp. 279-296|
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"On equilibrium allocations as distributions on the commodity space,"
CORE Discussion Papers RP
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"Equilibrium in a Market with Sequential Bargaining,"
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- Serrano Roberto, 1995. "A Market to Implement the Core," Journal of Economic Theory, Elsevier, vol. 67(1), pages 285-294, October.
- Perry, M. & Rany, P., 1992.
"A Non-Cooperative View of Coalition Formation and the Core,"
UWO Department of Economics Working Papers
9203, University of Western Ontario, Department of Economics.
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- Nir Dagan, 1996.
"Recontracting and Competition,"
Economic theory and game theory
013, Nir Dagan, revised Jun 1996.
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