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A protocol for repeated bargaining

Author

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  • Kato, Akihisa
  • Ríos Rull, José Víctor

Abstract

We propose a protocol for repeated bargaining where occasional periods of good outside opportunities yield improved outcomes but also higher breakout probabilities, yet there is a lot of risk sharing. Crucially, we only consider Markov perfect equilibria that have neither non payoff-relevant state variables that are costly to compute nor a contrived process of equilibrium selection.

Suggested Citation

  • Kato, Akihisa & Ríos Rull, José Víctor, 2023. "A protocol for repeated bargaining," Economics Letters, Elsevier, vol. 227(C).
    • Handle: RePEc:eee:ecolet:v:227:y:2023:i:c:s016517652300157x
    DOI: 10.1016/j.econlet.2023.111132
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    Cited by:

    1. Alexandros Theloudis & Jorge Velilla & Pierre-André Chiappori & José Ignacio Giménez-Nadal & José Alberto Molina, 2025. "Commitment and the Dynamics of Household Labour Supply," The Economic Journal, Royal Economic Society, vol. 135(665), pages 354-386.

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