Bargaining orders in a multi-person bargaining game

Jun Xiao

Games and Economic Behavior, 2018, vol. 107, issue C, 364-379

Abstract: This paper studies a complete-information bargaining game with one buyer and multiple sellers of different “sizes” or bargaining strengths. The bargaining order is determined endogenously. With a finite horizon, there is a unique subgame perfect equilibrium outcome, in which the buyer purchases in order of increasing size–from the smallest to the largest. With an infinite horizon, if the sellers have sufficiently different sizes, there is a unique equilibrium outcome, which has the same bargaining order. If the sellers have similar sizes with an infinite horizon, there may be multiple equilibrium outcomes with different bargaining orders.

Keywords: Multi-person bargaining; Bargaining order (search for similar items in EconPapers)
JEL-codes: C78 L23 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:107:y:2018:i:c:p:364-379

DOI: 10.1016/j.geb.2017.12.001

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