Economics, Econometrics and Finance
4 years ago

Equilibrium delay leads to non-existence in bargaining games, causing strategic chaos.

1 view
SSRN Electronic Journal
Equilibrium Delay and Non-Existence of Equilibrium in Unanimity Bargaining Games
Volker Britz, P. Jean‐Jacques Herings, Arkadi Predtetchinski

Paper Summary

The article explores bargaining games where players must all agree on a proposal. The order of players and proposals is based on chance. The study shows that in some cases, there may not be a perfect strategy for players to follow. Even when there is a strategy, there can be delays in reaching an agreement. As players become more patient, the outcomes may not always be the same.

Related papers

Theme background image
Mathematics
3 years ago

New General Nash Equilibrium Concept Revolutionizes Game Theory and Economics

Optimization Techniques
Graph Theory
Network Formation
1 view
Decision Sciences
4 years ago

Unique Equilibria Unlock Robust Strategies for Cooperative Decision-Making

Network Formation
Monetary Models
Mechanism Design
3 views
Theme background image
Social Sciences
4 years ago

Symmetric Equilibrium Revealed: Data Interpretation in Games Gets a Boost

Economic Behavior
Network Formation
Mechanism Design