Multi-Lateral Strategic Bargaining Without Stationarity

Alós-Ferrer, Carlos and Ritzberger, Klaus (August 2017) Multi-Lateral Strategic Bargaining Without Stationarity. Former Series > Working Paper Series > IHS Economics Series 332, 33 p.

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This paper establishes existence of subgame perfect equilibrium for a general class of sequential multi-lateral bargaining games. The only required hypothesis is that utility functions are continuous on the space of economic outcomes. In particular, no assumption on the space of feasible payoffs is needed. The result covers arbitrary and even time-varying bargaining protocols (acceptance rules), arbitrary specifications of patience or impatience (geometric, hyperbolic, or otherwise), externalities, multiple selves, and other-regarding preferences.

Item Type: IHS Series
Keywords: bargaining, equilibrium existence, infinite-horizon games, subgame perfection
Research Units: Former Research Groups (until 2017) > Financial Markets and Econometrics
Date Deposited: 27 Sep 2017 08:52
Last Modified: 27 Sep 2019 06:04
ISSN: 1605-7996

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