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Adaptive Play in Multiplayer Bargaining Situations

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  • Murali Agastia

Abstract

We study the dual issues of allocation and coalition formation in a model of so-cial learning. For a class of economies which can be expressed in terms of a real valued char-acteristic function, we first show that all self-perpetuating (steady-state) allocations realized froma simple bargaining game must be core allocations although players make simultaneous demands for surplus and only on their own behalf. We also exhibit a a sufficient condition for global (probabilistic) convergence to the core.

Suggested Citation

  • Murali Agastia, "undated". "Adaptive Play in Multiplayer Bargaining Situations," ELSE working papers 007, ESRC Centre on Economics Learning and Social Evolution.
    • Handle: RePEc:els:esrcls:007
    as

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    References listed on IDEAS

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