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We study an infinite horizon game in which pairs of players connected in a network are randomly matched to bargain over a unit surplus. Players who reach agreement are removed from the network without replacement. The global logic of efficient matchings and the local nature of bargaining, in...
Persistent link: https://www.econbiz.de/10010582590
We study a class of infinite horizon, discounted stochastic games with strategic complementarities. In our class of games, we prove the existence of a stationary Markov Nash equilibrium, as well as provide methods for constructing this least and greatest equilibrium via a simple successive...
Persistent link: https://www.econbiz.de/10011043005
We prove existence and purification results for strategic environments possessing a product structure that includes classes of large games, stochastic games, and models of endogenous institutions. Applied to large games, the results yield existence of pure-strategy equilibria allowing for...
Persistent link: https://www.econbiz.de/10011189746