Unique Equilibria in the Rubinstein Bargaining Model when the Payoff Set is Non-Convex
I give necessary and sufficient conditions for the uniqueness of the equilibrium in a wide class of Rubinstein bargaining models. The requirements encompass a class of non-convex or disconnected payoff sets with discontinuous Pareto frontiers. The equilibrium of the non-cooperative game is unique if the objective function of the corresponding Nash-bargaining game has a unique maximum. I extend the analysis to games where the time between offers is not constant.
|Date of creation:||Oct 2005|
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- Muthoo,Abhinay, 1999. "Bargaining Theory with Applications," Cambridge Books, Cambridge University Press, number 9780521576475, March.
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