The Nash bargaining solution in general n-person cooperative games

Akira Okada

Journal of Economic Theory, 2010, vol. 145, issue 6, 2356-2379

Abstract: We present a noncooperative foundation for the Nash bargaining solution for an n-person cooperative game in strategic form. The Nash bargaining solution should be immune to any coalitional deviations. Our noncooperative approach yields a new core concept, called the Nash core, for a cooperative game based on a consistency principle. We prove that the Nash bargaining solution can be supported (in every subgame) by a stationary subgame perfect equilibrium of the bargaining game if and only if the Nash bargaining solution belongs to the Nash core.

Keywords: Nash; bargaining; solution; Noncooperative; bargaining; Coalition; Externality; Core; n-Person; cooperative; games (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (36)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:145:y:2010:i:6:p:2356-2379

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