Collective Bargaining and Walrasian Equilibrium

Antonio Penta ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper contributes to the research agenda on non-cooperative foundations ofWalrasian Equilibrium. A class of barganing games in which agents bargain over prices and maximum trading con- straints is considered: It is proved that all the Stationary Sub- game Perfect Equilibria of these games implement Walrasian al- locations as the bargaining frictions vanish. The main novelty of the result is twofold: (1) it holds for any number of agents; (2) it is robust to di¤erent speci�cations of the bargaining process.

Keywords: strategic bargaining; Walrasian Equilibrium (search for similar items in EconPapers)
JEL-codes: C72 C78 D51 (search for similar items in EconPapers)
Date: 2007-05, Revised 2007-09
New Economics Papers: this item is included in nep-gth and nep-lab
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