Celik, Levent; Karabay, Bilgehan - Center for Economic Research and Graduate Education and … - 2011
The Baron-Ferejohn multilateral bargaining model predicts a payoff-unique stationary subgame perfect equilibrium (SSPE) in which players' equilibrium strategies are not uniquely determined. In this note, we present a modified version of the Baron-Ferejohn model by introducing veto players and...