A note on multi-issue bargaining with a finite set of alternatives (Q2491081)
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scientific article; zbMATH DE number 5027256
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| English | A note on multi-issue bargaining with a finite set of alternatives |
scientific article; zbMATH DE number 5027256 |
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A note on multi-issue bargaining with a finite set of alternatives (English)
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26 May 2006
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The author describes two bilateral multi-issue bargaining procedures with complete information for the players. In both procedures, when bargaining frictions are small enough, there exists a large multiplicity of equilibrium agreements, including ones with arbitrarily long delays. It is also shown that in the first procedure called issue-by-issue or restricted agenda bargaining, the stationary subgame perfect equilibria may support a large multiplicity of inefficient agreements. In the second procedure called unrestricted agenda bargaining, strictly controversial issues are not necessary in order to find multiplicity and delay in agreements.
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recurrent procedures
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complete information
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0.8847380876541138
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0.8758002519607544
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0.8546726107597351
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0.8519737720489502
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0.8498115539550781
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