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We develop a dynamic model in which a group collectively bargains with an external party. At each date the group makes an offer to the external party (the 'agent') in exchange for a concession. Group members hold heterogeneous preferences over agreements and are uncertain about the agent's...
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best allocation can be further characterized as the Nash solution of a bargaining game induced by the second-stage choice …
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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 …. -- Maskin monotonicity ; Social choice rule ; Bargaining games ; Nash program ; Mechanism ; Implementation …
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