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Sequential share bargaining

Author

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  • Herings, P.J.J.

    (Microeconomics & Public Economics)

  • Predtetchinski, A.

    (Microeconomics & Public Economics)

Abstract

This paper presents a new extension of the Rubinstein-St°ahl bargaining model to the case with n players, called sequential share bargaining. The bargaining protocol is natural and has as its main feature that the players’ shares in the cake are determined sequentially. The bargaining protocol requires unanimous agreement for proposals to be implemented. Unlike all existing bargaining protocols with unanimous agreement, the resulting game has unique subgame perfect equilibrium utilities for any value of the discount factor. In equilibrium, agreement is reached immediately. The results are therefore qualitatively the same as in the two player case. The result builds on an analysis of so-called one-dimensional bargaining problems. We show that also one-dimensional bargaining problems have unique subgame perfect equilibrium utilities for any value of the discount factor, and that also in one-dimensional bargaining problems agreement is reached immediately.
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Suggested Citation

  • Herings, P.J.J. & Predtetchinski, A., 2007. "Sequential share bargaining," Research Memorandum 005, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    • Handle: RePEc:unm:umamet:2007005
    DOI: 10.26481/umamet.2007005
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    References listed on IDEAS

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    1. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
    2. Imai, Haruo & Salonen, Hannu, 2000. "The representative Nash solution for two-sided bargaining problems," Mathematical Social Sciences, Elsevier, vol. 39(3), pages 349-365, May.
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    6. Cho, Seok-ju & Duggan, John, 2003. "Uniqueness of stationary equilibria in a one-dimensional model of bargaining," Journal of Economic Theory, Elsevier, vol. 113(1), pages 118-130, November.
    7. Suh, Sang-Chul & Wen, Quan, 2006. "Multi-agent bilateral bargaining and the Nash bargaining solution," Journal of Mathematical Economics, Elsevier, vol. 42(1), pages 61-73, February.
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    Cited by:

    1. António Osório, 2017. "A Sequential Allocation Problem: The Asymptotic Distribution of Resources," Group Decision and Negotiation, Springer, vol. 26(2), pages 357-377, March.
    2. Anne van den Nouweland & Agnieszka Rusinowska, 2020. "Bargaining foundation for ratio equilibrium in public‐good economies," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(2), pages 302-319, April.
    3. Erik Ansink & Hans-Peter Weikard, 2012. "Sequential sharing rules for river sharing problems," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 38(2), pages 187-210, February.
    4. Osório, António (António Miguel), 2017. "Self-interest and Equity Concerns: A Behavioural Allocation Rule for Operational Problems," Working Papers 2072/290757, Universitat Rovira i Virgili, Department of Economics.
    5. Hurt, Wesley & Osório, António (António Miguel), 2014. "A Sequential Allocation Problem: The Asymptotic Distribution of Resources," Working Papers 2072/237596, Universitat Rovira i Virgili, Department of Economics.
    6. Herings, P. Jean-Jacques & Predtetchinski, Arkadi, 2010. "One-dimensional bargaining with Markov recognition probabilities," Journal of Economic Theory, Elsevier, vol. 145(1), pages 189-215, January.
    7. Osorio, Antonio, 2014. "A Sequential Allocation Problem: The Asymptotic Distribution of Resources," MPRA Paper 56690, University Library of Munich, Germany.
    8. P. Jean-Jacques Herings & Harold Houba, 2022. "Costless delay in negotiations," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 74(1), pages 69-93, July.
    9. Daniel Cardona & Antoni Rubí-Barceló, 2016. "Time-Preference Heterogeneity and Multiplicity of Equilibria in Two-Group Bargaining," Games, MDPI, vol. 7(2), pages 1-17, May.
    10. Osório, António, 2017. "Self-interest and equity concerns: A behavioural allocation rule for operational problems," European Journal of Operational Research, Elsevier, vol. 261(1), pages 205-213.
    11. Osório, António (António Miguel), 2016. "A Sequential Allocation Problem: The Asymptotic Distribution of Resources," Working Papers 2072/266574, Universitat Rovira i Virgili, Department of Economics.

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    JEL classification:

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

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