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A Comment on "Multilateral Bargaining"

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  • Maurya, Amit Kumar

Abstract

Krishna and Serrano (1996) study a model of multilateral bargaining, and claim that their analysis is applicable irrespective of whether the surplus exists at the start of the game or it is created after all players agree. We show that their claim is wrong. Their analysis is not applicable when the surplus is created after all players agree. Hence, some of the important real life bargaining situations, like management-multiple unions bargaining and land assembly are not in the scope of Krishna and Serrano (1996).

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  • Maurya, Amit Kumar, 2015. "A Comment on "Multilateral Bargaining"," MPRA Paper 67463, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:67463
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    References listed on IDEAS

    as
    1. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
    2. Roy Chowdhury, Prabal & Sengupta, Kunal, 2012. "Transparency, complementarity and holdout," Games and Economic Behavior, Elsevier, vol. 75(2), pages 598-612.
    3. Vijay Krishna & Roberto Serrano, 1996. "Multilateral Bargaining," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 63(1), pages 61-80.
    4. John Sutton, 1986. "Non-Cooperative Bargaining Theory: An Introduction," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 53(5), pages 709-724.
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    More about this item

    Keywords

    Multilateral bargaining; Efficiency;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory

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