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, 1953) for two-person bargaining games. Three of these axioms are standard and are shared by several popular bargaining … solutions. They suffice to characterize these solutions on TU-bargaining games where they coincide. The fourth axiom is a … of Nash's IIA-axiom that together with the three standard axioms suffices to characterize the Nash bargaining solution …
Persistent link: https://www.econbiz.de/10009452564
bargaining games they lead to the Pareto efficient boundary and to the Nash solution, respectively, as sets of maximal elements …
Persistent link: https://www.econbiz.de/10009452470
counterparts for bargaining economies, a specific class of production economies (finite and infinite) representing standard two …-person bargaining games and their continuum counterparts as coalition production economies. Thereby we get core equivalence of the Nash … solution. The results reconfirm the Walrasian approach to Nash bargaining of Trockel (1996). Moreover we establish the same …
Persistent link: https://www.econbiz.de/10009452471
axioms. The paper presents and justifies these axioms and compares them to related conditions used in other bargaining … contexts. In Nash Bargaining Theory, the axioms analogous to these three are in conflict with each other. In contrast, in the …
Persistent link: https://www.econbiz.de/10009431894
We develop a dynamic bargaining model in which a leading country endogenously decides whether to sequentially negotiate … free trade agreements with subsets of countries or engage in simultaneous multilateral bargaining with all countries at … once. We show how the structure of coalition externalities shapes the choice between sequential and multilateral bargaining …
Persistent link: https://www.econbiz.de/10009432009
Conventional wisdom says that economic surplus is created when the cost of litigation is foregone in favor of settlement, a theory flowing from the Coase Theorem. The cost-benefit analysis weighs settlement against the expected value of litigation net of transaction cost. This calculus yields...
Persistent link: https://www.econbiz.de/10009432053
This half-semester course discusses decision theory and topics in game theory. We present models of individual decision-making under certainty and uncertainty. Topics include preference orderings, expected utility, risk, stochastic dominance, supermodularity, monotone comparative statics,...
Persistent link: https://www.econbiz.de/10009432546
In important conflicts such as wars and labor-management disputes, people typically rely on the judgment of experts to predict the decisions that will be made. We compared the accuracy of 106 forecasts by experts and 169 forecasts by novices about eight real conflicts. The forecasts of experts...
Persistent link: https://www.econbiz.de/10009439172
Mutualisms provide benefits to those who participate in them. As a mutualism evolves, how will these benefits come to be allocated among the participants? We approach this question using evolutionary game theory and explore the ways in which the coevolutionary process determines the allocation...
Persistent link: https://www.econbiz.de/10009460792
This thesis consists of three related essays, which develop the framework to study multilateral bargaining and … in the Eurasian gas supply chain. The first analytical part of the thesis concerns multilateral bargaining Russia and … to create countervailing power. The second part of the thesis deals with multilateral bargaining and coalition formation …
Persistent link: https://www.econbiz.de/10009467105