A Weak Bargaining Set for Contract Choice Problems

Somdeb Lahiri

No 12167, Coalition Theory Network Working Papers from Fondazione Eni Enrico Mattei (FEEM)

Abstract: In this paper, we consider the problem of choosing a set of multi-party contracts, where each coalition of agents has a non-empty finite set of feasible contracts to choose from. We call such problems, contract choice problems. The main result of this paper states that every contract choice problem has a non-empty weak bargaining set. The need for such a solution concept which is considerably weaker than the core arises, since it is well known that even for very simple contract choice problems, the core may be empty. We also show by means of an example that the bargaining set due to Mas-Colell (1989), as well as a weaker version of it, may be empty for contract choice problems, thereby implying that the weakening we suggest is in some ways 'tight'

Keywords: Financial; Economics (search for similar items in EconPapers)
Pages: 10
Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/12167/files/wp060019.pdf (application/pdf)

Related works:
Journal Article: A weak bargaining set for contract choice problems (2007)
Working Paper: A Weak Bargaining Set for Contract Choice Problems (2006)
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:ags:feemct:12167

DOI: 10.22004/ag.econ.12167

Access Statistics for this paper

More papers in Coalition Theory Network Working Papers from Fondazione Eni Enrico Mattei (FEEM) Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().