On the Non-Cooperative Foundations of Cooperative Bargaining
In this note we challenge the non-cooperative foundations of cooperative bargaining solutions on the grounds that the limit operation for approaching a frictionless world is not robusto We show that when discounting almost ceases to play a role, any individually rational payoff can be supported by some subgame perfect equilibrium. To select the "correct" point imposes excessive informationaL requirements on the analyst.
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- Yang, Jeong-Ae, 1992. "Another n-person bargaining game with a unique perfect equilibrium," Economics Letters, Elsevier, vol. 38(3), pages 275-277, March. Full references (including those not matched with items on IDEAS)
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