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Convergence of the Aumann-Davis-Maschler and Geanakoplos Bargaining Sets

Listed author(s):
  • Robert M. Anderson

    (University of California at Berkeley)

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    Geanakoplos defined a notion of bargaining set, and proved that his bargaining set is approximately competitive in large finite transferable utility exchange economies with smooth preferences. Shapley and Shubik showed that the Aumann-Davis-Maschler bargaining set is approximately competitive in replica sequences of TU exchange economies with smooth preferences. We extend Geanakoplos' result to nontransferable utility exchange economies without smooth preferences, and we extend the Shapley and Shubik result to non-replica sequences of NTU exchange economies with smooth preferences.

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    Paper provided by EconWPA in its series Game Theory and Information with number 9403002.

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    Length: 37 pages
    Date of creation: 02 Mar 1994
    Handle: RePEc:wpa:wuwpga:9403002
    Note: 37 pages, postscript file, compressed
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    1. Mas-Colell,Andreu, 1990. "The Theory of General Economic Equilibrium," Cambridge Books, Cambridge University Press, number 9780521388702, August.
    2. Kim, Wan-Jin, 1986. "On the Rate of Convergence of the Core," Department of Economics, Working Paper Series qt62c3v2mg, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    3. Wan-Jin Kim., 1986. "On the Rate of Convergence of the Core," Economics Working Papers 8617, University of California at Berkeley.
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