An \(N\)-person pure bargaining game (Q1321541): Difference between revisions

The paper deals with the \(n\)-person generalization of the pure bargaining game. The attention is focused to its solution. Namely, it is shown that there exists a unique perfect equilibrium outcome and it approaches the \(n\)-person Nash bargaining solution if the time delay between particular bargaining steps vanishes. The generalization of the 2-person to the \(n\)- person game is based on the assumption that the group bargaining process can be transformed to a combination of several bilateral contracts.