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This paper establishes existence of subgame perfect equilibrium for a general class of sequential multi-lateral bargaining games. The only required hypothesis is that utility functions are continuous on the space of economic outcomes. In particular, no assumption on the space of feasible payoffs...
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We formulate and study a general finite-horizon bargaining game with simultaneous moves and a disagreement outcome that need not be the worst possible result for the agents. Conditions are identified under which the game is dominance solvable in the sense that iterative deletion of weakly...
Persistent link: https://www.econbiz.de/10010280787
This paper associates a strategic n-person game with a given transferable utility game and studies its Nash equilibria. Strict equilibria in this model characterize those divisions of social surplus that can become conventions in the sense of Young (1993). It is shown that even in relatively...
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are currently employed/unemployed. We show that such a process is absorbed into the core with probability one in finite … time. Moreover, within the core, allocations are selected that are characterized by surplus splitting according to a …
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-firm-buyer games have non-empty core. We show that for these games the core coincides with the classical bargaining set (Davis and …
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an n-person game in which the players are the members of the two organizations. We look for the core of this game, and … find that the core is always non-empty. In some cases, however (namely, when members of the two organizations are very hawk …-like, or when the decision-making mechanisms are very rigorous), we find that the only core outcome ot the game is continued …
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