Subgame-perfect implementation of bargaining solutions

نویسنده

  • Eiichi Miyagawa
چکیده

February 1997 Final Version: October 15, 2001 This paper provides simple four-stage game forms that fully implement a large class of two-person bargaining solutions in subgame-perfect equilibrium. The solutions that can be implemented by our game forms are those that maximize a monotonic and quasi-concave function of utilities after normalizing each agent's utility function so that the maximum utility is 1 and the utility of the disagreement outcome is 0. This class of solutions includes the Nash, Kalai{Smorodinsky, and Relative Utilitarian solutions. The game forms have a structure of alternating offers and contain no integer device. JEL: C72, C78, D70, D74, D82.

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عنوان ژورنال:
  • Games and Economic Behavior

دوره 41  شماره 

صفحات  -

تاریخ انتشار 2002