Multilateral non-cooperative bargaining in a general utility space. (English) Zbl 1211.91138
Summary: We consider an \(n\)-player bargaining problem where the utility possibility set is compact, convex, and stricly comprehensive. We show that a stationary subgame perfect Nash equilibrium exists, and that, if the Pareto surface is differentiable, all such equilibria converge to the Nash bargaining solution as the length of a time period between offers goes to zero. Without the differentiability assumption, convergence need not hold.
MSC:
| 91B26 | Auctions, bargaining, bidding and selling, and other market models |
| 91A10 | Noncooperative games |
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