Existence of stationary bargaining equilibria

John Duggan

Games and Economic Behavior, 2017, vol. 102, issue C, 111-126

Abstract: This paper addresses the question of existence of stationary Markov perfect equilibria in a class of dynamic games that includes many known bargaining models and models of coalition formation. General sufficient conditions for existence of equilibria are currently lacking in a number of interesting environments, e.g., models with non-convexities, consumption lower bounds, or an evolving state variable. The main result establishes existence of equilibrium under compactness and continuity conditions, without the structure of convexity or strict comprehensiveness used in the extant literature. The proof requires a precise selection of voting equilibria following different proposals using a generalization of Fatou's lemma.

Keywords: Bargaining; Coalition formation; Equilibrium existence; Dynamic games (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0899825616301282
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:102:y:2017:i:c:p:111-126

DOI: 10.1016/j.geb.2016.10.013

Access Statistics for this article

Games and Economic Behavior is currently edited by E. Kalai

More articles in Games and Economic Behavior from Elsevier
Bibliographic data for series maintained by Catherine Liu ().