A bargaining procedure leading to the serial rule in games with veto players
J. Arin (),
Vincent Feltkamp and
Maria Montero
Annals of Operations Research, 2015, vol. 229, issue 1, 66 pages
Abstract:
This paper studies an allocation procedure for coalitional games with veto players. The procedure is similar to the one presented by Arin and Feltkamp (J Math Econ 43:855–870, 2007 ), which is based on Dagan et al. (Games Econ Behav 18:55–72, 1997 ). A distinguished player makes a proposal that the remaining players must accept or reject, and conflict is solved bilaterally between the rejector and the proposer. We allow the proposer to make sequential proposals over several periods. If responders are myopic maximizers (i.e. consider each period in isolation), the only equilibrium outcome is the serial rule of Arin and Feltkamp (Eur J Oper Res 216:208–213, 2012 ) regardless of the order of moves. If all players are fully rational, the serial rule still arises as the unique subgame perfect equilibrium outcome if the order of moves is such that stronger players respond to the proposal after weaker ones. Copyright Springer Science+Business Media New York 2015
Keywords: Game theory; Veto players; Bargaining; Serial rule; C71; C72; C78; D70 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
http://hdl.handle.net/10.1007/s10479-015-1841-5 (text/html)
Access to full text is restricted to subscribers.
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:spr:annopr:v:229:y:2015:i:1:p:41-66:10.1007/s10479-015-1841-5
Ordering information: This journal article can be ordered from
http://www.springer.com/journal/10479
DOI: 10.1007/s10479-015-1841-5
Access Statistics for this article
Annals of Operations Research is currently edited by Endre Boros
More articles in Annals of Operations Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().