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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UWO Department of Economics Working Papers
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Levine's Working Paper Archive
661465000000000387, David K. Levine.
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Economic theory and game theory
013, Nir Dagan, revised Jun 1996.
- Roberto Serrano & Rajiv Vohra, 1997. "Non-cooperative implementation of the core," Social Choice and Welfare, Springer, vol. 14(4), pages 513-525.
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Levine's Working Paper Archive
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