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We study a process of bargaining over social outcomes represented by points in theunit interval. The identity of the proposer is determined by a general Markov process and the acceptance of a proposal requires the approval of it by all the players. We show that for every value of the discount...
Persistent link: https://www.econbiz.de/10011202044
Dynamic exchange economies with uncertainty are considered in which information is released over infinite time. The strong sequential core of such an economy consists of those consumption processes where no coalition of agents wishes to deviate at any moment for the rest of time. Comparable to...
Persistent link: https://www.econbiz.de/10011199155
The strong sequential core for two-stage economies with a possibly incomplete set of assets in period zero and trade in commodities in period one consists of those goods allocations that are in the classical core and moreover, after realization of the state of nature, in the core of the economy...
Persistent link: https://www.econbiz.de/10011200247
We study a model of multilateral bargaining over social outcomes represented by points in the unit interval. An acceptance or rejection of a proposal is determined by a voting rule as represented by a collection of decisive coalitions. The focus of the paper is on the asymptotic behavior of...
Persistent link: https://www.econbiz.de/10011202056
This note provides a new proof of the non-emptiness of the fuzzy core in a pureexchange economy with finitely many agents. The proof is based on the concept of(Π, β)-balanced core for games without side payments due to Bonnisseau and Iehlé(2003).
Persistent link: https://www.econbiz.de/10011202116
We study a model of non-cooperative multilateral unanimity bargaining on a full-dimensional payoff set. The probability distribution with which the proposing player is selected in each bargaining round follows an irreducible Markov process. If a proposal is rejected, negotiations break down with...
Persistent link: https://www.econbiz.de/10008860914
This note reexamines the connection between the asymmetric Nash bargaining solution and the equilibria of strategic bargaining games. A first example shows non-convergence to the asymmetric Nash bargaining solution. A second example demonstrates the possibility of multiple limits.
Persistent link: https://www.econbiz.de/10009218910
We consider a class of perfect information bargaining games with unanimity acceptance rule. The proposer and the order of responding players are determined by the state that evolves stochastically over time. The probability distribution of the state in the next period is determined jointly by...
Persistent link: https://www.econbiz.de/10010772211
We consider a non-cooperative multilateral bargaining game and study an action-dependent bargaining protocol, that is, the probability with which a player becomes the proposer in a round of bargaining depends on the identity of the player who previously rejected. An important example is the...
Persistent link: https://www.econbiz.de/10010785188
We consider a class of perfect information bargaining games with unanimity acceptance rule. The proposer and the order of responding players are determined by the state that evolves stochastically over time. The probability distribution of the state in the next period is determined jointly by...
Persistent link: https://www.econbiz.de/10011753260