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Inner Core, Asymmetric Nash Bargaining Solutions and Competitive Payoffs

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  • Brangewitz, Sonja

    (Center for Mathematical Economics, Bielefeld University)

  • Gamp, Jan-Philip

    (Center for Mathematical Economics, Bielefeld University)

Abstract

We investigate the relationship between the inner core and asymmetric Nash bargaining solutions for n-person bargaining games with complete information. We show that the set of asymmetric Nash bargaining solutions for different strictly positive vectors of weights coincides with the inner core if all points in the underlying bargaining set are strictly positive. Furthermore, we prove that every bargaining game is a market game. By using the results of Qin (1993) we conclude that for every possible vector of weights of the asymmetric Nash bargaining solution there exists an economy that has this asymmetric Nash bargaining solution as its unique competitive payoff vector. We relate the literature of Trockel (1996, 2005) with the ideas of Qin (1993). Our result can be seen as a market foundation for every asymmetric Nash bargaining solution in analogy to the results on non-cooperative foundations of cooperative games.

Suggested Citation

  • Brangewitz, Sonja & Gamp, Jan-Philip, 2016. "Inner Core, Asymmetric Nash Bargaining Solutions and Competitive Payoffs," Center for Mathematical Economics Working Papers 453, Center for Mathematical Economics, Bielefeld University.
    • Handle: RePEc:bie:wpaper:453
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    References listed on IDEAS

    as
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    7. Qin, Cheng-Zhong, 1993. "A Conjecture of Shapley and Shubik on Competitive Outcomes in the Cores of NTU Market Games," International Journal of Game Theory, Springer;Game Theory Society, vol. 22(4), pages 335-344.
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    9. de Clippel, Geoffroy & Minelli, Enrico, 2005. "Two remarks on the inner core," Games and Economic Behavior, Elsevier, vol. 50(2), pages 143-154, February.
    10. Brangewitz, Sonja & Gamp, Jan-Philip, 2014. "Competitive outcomes and the core of TU market games," Center for Mathematical Economics Working Papers 454, Center for Mathematical Economics, Bielefeld University.
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    12. Trockel, Walter, 1996. "A Walrasian approach to bargaining games," Economics Letters, Elsevier, vol. 51(3), pages 295-301, June.
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    15. Brangewitz, Sonja & Gamp, Jan-Philip, 2016. "Competitive outcomes and the inner core of NTU market games," Center for Mathematical Economics Working Papers 449, Center for Mathematical Economics, Bielefeld University.
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    Keywords

    Inner Core; Asymmetric Nash Bargaining Solution; Competitive Payoffs; Market Games;
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