Stationary perfect equilibria of an n-person noncooperative bargaining game and cooperative solution concepts

Taekwon Kim and Yongil Jeon

European Journal of Operational Research, 2009, vol. 194, issue 3, 922-932

Abstract: This paper characterizes the stationary (subgame) perfect equilibria of an n-person noncooperative bargaining model with characteristic functions, and provides strategic foundations of some cooperative solution concepts such as the core, the bargaining set and the kernel. The contribution of this paper is twofold. First, we show that a linear programming formulation successfully characterizes the stationary (subgame) perfect equilibria of our bargaining game. We suggest a linear programming formulation as an algorithm for the stationary (subgame) perfect equilibria of a class of n-person noncooperative games. Second, utilizing the linear programming formulation, we show that stationary (subgame) perfect equilibria of n-person noncooperative games provide strategic foundations for the bargaining set and the kernel.

Keywords: Noncooperative; bargaining; Stationary; (subgame); perfect; equilibria; Characteristic; functions; game; Coalition; formation; Linear; programming; Cooperative; solution; concepts (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:194:y:2009:i:3:p:922-932

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