An evolutionary model of bargaining
Article Abstract:
An evolutionary model of bargaining is developed and analyzed. The model defines individuals from two bargainer populations and matches them up randomlyfor a Nash demand game. These individuals make their demands on the basis of incomplete information and occasional random choices. It is shown that a stochastically stable division is generated which approximates Nash equilibriumconditions.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Commitment through incomplete information in a simple repeated bargaining game
Article Abstract:
The 'reputation effect' has a strong influence in bargaining games that use asymmetric information. This effect allows sellers to establish product price minimums based on the sellers' maximum costs. Previous research of the reputation effect is also discussed.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Excess demand functions with incomplete markets - a global result
Article Abstract:
The author looks at international aspects of excess demand functions.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2003
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: A robust rational route to randomness in a simple asset pricing model. Accuracy of stochastic perturbation methods: The case of asset pricing models
- Abstracts: A dynamic model of union power, wages and employment. Fiscal institutions and wage bargaining in the local public sector
- Abstracts: The effects of incomplete insurance markets and trading costs in a consumption-based asset pricing model. The equity premium and the allocation of income risk
- Abstracts: Optimal policy with limited commitment. Linear aggregation in cointegrated systems. A solution to the positivity problem in the state-space approach to modeling vector-valued time series
- Abstracts: Tastes and technology in a two-country model of the business cycle: explaining international comovements. Gravity with gravitas: a solution to the border puzzle