IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

A Folk Theorem for Bargaining Games

  • Herings P.J.J.
  • Meshalkin A.
  • Predtetchinski A.

    (METEOR)

We study strategies with one–period recall in the context of a general class of multilateralbargaining games. A strategy has one–period recall if actions in a particular period are onlyconditioned on information in the previous and the current period. We show that if players aresufficiently patient, given any proposal in the space of possible agreements, there exists asubgame perfect equilibrium such that the given proposal is made and unanimously accepted inperiod zero. Our strategies are pure and have one–period recall, and we do not make use of apublic randomization device. The players’ discount factors are allowed to be heterogeneous.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://digitalarchive.maastrichtuniversity.nl/fedora/objects/guid:edbe11b2-9997-4ddd-a078-6079b7d8facf/datastreams/ASSET1/content
Our checks indicate that this address may not be valid because: 401 Unauthorized. If this is indeed the case, please notify (Charles Bollen)


Download Restriction: no

Paper provided by Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR) in its series Research Memorandum with number 056.

as
in new window

Length:
Date of creation: 2012
Date of revision:
Handle: RePEc:unm:umamet:2012056
Contact details of provider: Postal: P.O. Box 616, 6200 MD Maastricht
Phone: +31 (0)43 38 83 830
Web page: http://www.maastrichtuniversity.nl/
Email:


More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Herings, P. Jean-Jacques & Predtetchinski, Arkadi, 2010. "One-dimensional bargaining with Markov recognition probabilities," Journal of Economic Theory, Elsevier, vol. 145(1), pages 189-215, January.
  2. Rubinstein, Ariel, 1979. "Equilibrium in supergames with the overtaking criterion," Journal of Economic Theory, Elsevier, vol. 21(1), pages 1-9, August.
  3. Tasos Kalandrakis, 2004. "Regularity of Pure Strategy Equilibrium Points in a Class of Bargaining Games," Wallis Working Papers WP37, University of Rochester - Wallis Institute of Political Economy.
  4. Binmore, K. & Osborne, M.J. & Rubinstein, A., 1989. "Noncooperative Models Of Bargaining," Papers 89-26, Michigan - Center for Research on Economic & Social Theory.
  5. V. Bhaskar & George J. Mailath & Stephen Morris, 2009. "A Foundation for Markov Equilibria in Infinite Horizon Perfect Information Games," PIER Working Paper Archive 09-029, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  6. Chen, Bo, 2008. "On effective minimax payoffs and unequal discounting," Economics Letters, Elsevier, vol. 100(1), pages 105-107, July.
  7. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
  8. Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, June.
  9. Ehud Lehrer & Ady Pauzner, 1999. "Repeated Games with Differential Time Preferences," Econometrica, Econometric Society, vol. 67(2), pages 393-412, March.
  10. Johannes Hörnerx & Wojciech Olszewski, 2009. "How Robust Is the Folk Theorem?," The Quarterly Journal of Economics, MIT Press, vol. 124(4), pages 1773-1814, November.
  11. Friedman, James W, 1971. "A Non-cooperative Equilibrium for Supergames," Review of Economic Studies, Wiley Blackwell, vol. 38(113), pages 1-12, January.
  12. Merlo, Antonio & Wilson, Charles A, 1995. "A Stochastic Model of Sequential Bargaining with Complete Information," Econometrica, Econometric Society, vol. 63(2), pages 371-99, March.
  13. Fudenberg, Drew & Maskin, Eric, 1986. "The Folk Theorem in Repeated Games with Discounting or with Incomplete Information," Econometrica, Econometric Society, vol. 54(3), pages 533-54, May.
  14. Chatterjee, Kalyan & Bhaskar Dutta & Debraj Ray & Kunal Sengupta, 1993. "A Noncooperative Theory of Coalitional Bargaining," Review of Economic Studies, Wiley Blackwell, vol. 60(2), pages 463-77, April.
  15. Fudenberg, Drew & Yamamoto, Yuichi, 2011. "The Folk Theorem for Irreducible Stochastic Games with Imperfect Public Monitoring," Scholarly Articles 8896226, Harvard University Department of Economics.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:unm:umamet:2012056. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Charles Bollen)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.