Showing 1 - 8 of 8
The alternating offers game due to Rubinstein (1982) had been used by Binmore (1980) and by Binmore et.al. (1986) to provide via its unique subgame perfect equilibrium an approximate non-cooperative support for the Nash bargaining solution of associated cooperative two-person bargaining games....
Persistent link: https://www.econbiz.de/10011582516
This paper provides four axioms that uniquely characterize the sequential Raiffa solution proposed by Raiffa (1951, 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...
Persistent link: https://www.econbiz.de/10010272555
This article provides an exact non-cooperative foundation of the sequential Raiffa solution for two person bargaining games. Based on an approximate foundation due to Myerson (1997) for any two-person bargaining game (S,d) an extensive form game G(S,d) is defined that has an infinity of weakly...
Persistent link: https://www.econbiz.de/10010272572
Game Theory describes human interaction involving conflict, cooperation and competition, the term Interpersonal Decision Theory is synonymous. The term reflects the fact that most essential features of this field are manifested in parlor games. This topic-level treatment covers large parts of...
Persistent link: https://www.econbiz.de/10010272574
Howard (1992) argues that the Nash bargaining solution is not Nash implementable, as it does not satisfy Maskin monotonicity. His arguments can be extended to other bargaining solutions as well. However, by defining a social choice correspondence that is based on the solution rather than on its...
Persistent link: https://www.econbiz.de/10010272596
In this article we combine Debreu's (1952) social system with Hurwicz's (1994, 2008) ideas of embedding a "desired" game form into a "natural" game form that includes all feasible behavior, even if it is "illegal" according to the desired form. For the resulting socio-legal system we extend...
Persistent link: https://www.econbiz.de/10012606400
These notes consist of two parts. In the first one I present a counter example to Proposition 3 of Anbarci & Sun (2013). In the second part I propose a correction based on an axiom similar to one used by Salonen (1988) in the first axomatization of the Discrete Raiffa solution.
Persistent link: https://www.econbiz.de/10010319968
For any abstract bargaining problem a non-cooperative one stage strategic game is constructed whose unique dominant strategies Nash equilibrium implements the Nash solution of the bargaining problem.
Persistent link: https://www.econbiz.de/10010291060