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Pareto efficiency in the dynamic one-dimensional bargaining model

Tasos Kalandrakis ()

Journal of Theoretical Politics, 2016, vol. 28, issue 4, 525-536

Abstract: Pareto-dominated agreements are shown to prevail with positive probability in an open set of status quo in a Markov perfect equilibrium of a one-dimensional dynamic bargaining game. This equilibrium is continuous, symmetric, with dynamic preferences that satisfy the single-plateau property. It is also shown that there does not exist a symmetric equilibrium with single-peaked preferences.

Keywords: Dynamic bargaining; endogenous status quo; Pareto efficiency (search for similar items in EconPapers)
Date: 2016
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