Regularity of Pure Strategy Equilibrium Points in a Class of Bargaining Games

Tasos Kalandrakis

No WP37, Wallis Working Papers from University of Rochester - Wallis Institute of Political Economy

Abstract: For a class of n-player (n ? 2) sequential bargaining games with probabilistic recognition and general agreement rules, we characterize pure strategy Stationary Subgame Perfect (PSSP) equilibria via a finite number of equalities and inequalities. We use this characterization and the degree theory of Shannon, 1994, to show that when utility over agreements has negative definite second (contingent) derivative, there is a finite number of PSSP equilibrium points for almost all discount factors. If in addition the space of agreements is one-dimensional, the theorem applies for all SSP equilibria. And for oligarchic voting rules (which include unanimity) with agreement spaces of arbitrary finite dimension, the number of SSP equilibria is odd and the equilibrium correspondence is lower-hemicontinuous for almost all discount factors. Finally, we provide a sufficient condition for uniqueness of SSP equilibrium in oligarchic games.

Keywords: Local Uniqueness of Equilibrium; Regularity; Sequential Bargaining. (search for similar items in EconPapers)
Pages: 25 pages
Date: 2004-04
New Economics Papers: this item is included in nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.wallis.rochester.edu/WallisPapers/wallis_37.pdf full text (application/pdf)
None

Related works:
Journal Article: Regularity of pure strategy equilibrium points in a class of bargaining games (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:roc:wallis:wp37

Access Statistics for this paper

More papers in Wallis Working Papers from University of Rochester - Wallis Institute of Political Economy University of Rochester, Wallis Institute, Harkness 109B Rochester, New York 14627 U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by Richard DiSalvo ( this e-mail address is bad, please contact ).