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Mediation and the Nash bargaining solution

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  • Charles A. Wilson

Abstract

This paper analyzes a model of bargaining in which two parties use a mediator who sequentially makes random proposals until agreement by both parties is reached. I show that as the cost of delay shrinks to zero, the subgame perfect payoff converges to the asymmetric Nash bargaining solution with weights determined by the relative discount rates of the players. I also establish conditions for the uniqueness of the subgame perfect equilibrium for arbitrary discount rates.

Suggested Citation

  • Charles A. Wilson, 2001. "Mediation and the Nash bargaining solution," Review of Economic Design, Springer;Society for Economic Design, vol. 6(3), pages 353-370.
    • Handle: RePEc:spr:reecde:v:6:y:2001:i:3:p:353-370
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    Cited by:

    1. Olivier Compte & Philippe Jehiel, 2010. "Bargaining and Majority Rules: A Collective Search Perspective," Journal of Political Economy, University of Chicago Press, vol. 118(2), pages 189-221, April.

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