Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/171639
Authors: 
Britz, Volker
Herings, P. Jean-Jacques
Predtetchinski, Arkadi
Year of Publication: 
2014
Series/Report no.: 
Economics Working Paper Series 14/196
Abstract: 
We consider a class of perfect information bargaining games with unanimity acceptance rule. The proposer and the order of responding players are determined by the state that evolves stochastically over time. The probability distribution of the state in the next period is determined jointly by the current state and the identity of the player who rejected the current proposal. This protocol encompasses a vast number of special cases studied in the literature. We show that subgame perfect equilibria in pure stationary strategies need not exist. When such equilibria do exist, they may exhibit delay. Limit equilibria (as the players become infinitely patient) need not be unique.
Subjects: 
Strategic Bargaining
Subgame Perfect Equilibrium
Stationary Strategies
Nash Bargaining Solution
JEL: 
C72
C78
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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