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Uniqueness In Random-Proposer Multilateral Bargaining

Author

Listed:
  • HUIBIN YAN

    (Department of Economics, University of California at Santa Cruz, Santa Cruz, CA 95064, USA)

Abstract

Solution uniqueness is an important property for a bargaining model. Rubinstein's (1982) seminal 2-person alternating-offer bargaining game has a unique Subgame Perfect Equilibrium outcome. Is it possible to obtain uniqueness results in the much enlarged setting of multilateral bargaining with a characteristic function? This paper investigates a random-proposer model first studied in Okada (1993) in which each period players have equal probabilities of being selected to make a proposal and bargaining ends after one coalition forms. Focusing on transferable utility environments and Stationary Subgame Perfect Equilibria (SSPE), we findex anteSSPE payoff uniqueness for symmetric and convex characteristic functions, considerably expanding the conditions under which this model is known to exhibit SSPE payoff uniqueness. Our model includes as a special case a variant of the legislative bargaining model in Baron and Ferejohn (1989), and our results imply (unrestricted) SSPE payoff uniqueness in this case.

Suggested Citation

  • Huibin Yan, 2009. "Uniqueness In Random-Proposer Multilateral Bargaining," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 11(04), pages 407-417.
    • Handle: RePEc:wsi:igtrxx:v:11:y:2009:i:04:n:s0219198909002406
    DOI: 10.1142/S0219198909002406
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    Citations

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    Cited by:

    1. Le Breton, Michel & Montero, Maria & Zaporozhets, Vera, 2012. "Voting power in the EU council of ministers and fair decision making in distributive politics," Mathematical Social Sciences, Elsevier, vol. 63(2), pages 159-173.
    2. Eraslan, Hülya & McLennan, Andrew, 2013. "Uniqueness of stationary equilibrium payoffs in coalitional bargaining," Journal of Economic Theory, Elsevier, vol. 148(6), pages 2195-2222.
    3. Arnold Polanski & Emiliya Lazarova, 2015. "Dynamic multilateral markets," International Journal of Game Theory, Springer;Game Theory Society, vol. 44(4), pages 815-833, November.
    4. Evdokimov, Kirill S., 2023. "Equality in legislative bargaining," Journal of Economic Theory, Elsevier, vol. 212(C).
    5. Maria Montero, 2023. "Coalition Formation in Games with Externalities," Dynamic Games and Applications, Springer, vol. 13(2), pages 525-548, June.

    More about this item

    Keywords

    Random proposer; multilateral bargaining; unique; coalition; C72;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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