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This paper examines conditions for stability in bargaining networks. Network formation is endogenized and payoffs are … internalize the entire network structure when choosing trading partners. The set of link stable networks is characterized for all … positive fixed costs per link. It can be shown that for all positive costs link-stable Manea bargaining networks are of degree …
Persistent link: https://www.econbiz.de/10013002376
sequential network bargaining. Assuming patient players, we provide a complete characterization of networks being pairwise (Nash …We analyze a model of strategic network formation prior to a Manea (2011) bargaining game: ex-ante homogeneous players … form an undirected network with explicit linking costs anticipating expected equilibrium payoffs from the subsequent …
Persistent link: https://www.econbiz.de/10010458499
We introduce a noncooperative multilateral bargaining model for a network-restricted environment, in which players can … their communication links with upfront transfers. The main theorem characterizes a condition on network structures for … efficient equilibria and shows the prevalence of strategic delays. If the underlying network is either complete or circular …
Persistent link: https://www.econbiz.de/10011279698
We analyze a model of strategic network formation prior to a Manea (2011) bargaining game: ex-ante homogeneous players … form costly undirected links anticipating expected equilibrium payoffs from the subsequent network bargaining. Assuming … patient players, we provide a complete characterization of non-singularly pairwise (Nash) stable networks: specific disjoint …
Persistent link: https://www.econbiz.de/10011296326
We demonstrate that one should not expect convergence of the proposals to the subgame perfect Nash equilibrium offer in standard ultimatum games. First, imposing strict experimental control of the behavior of the receiving players and focusing on the behavior of the proposers, we show...
Persistent link: https://www.econbiz.de/10014075019
pollution there are local pollution effects represented by a network structure. We show that stable IEAs exist if the network …
Persistent link: https://www.econbiz.de/10011332824
symmetric case. As an application, we establish an interesting link with the formation of networks. -- Overlapping Coalitions … ; Cover Function ; Bargaining ; Symmetric Game ; Network …
Persistent link: https://www.econbiz.de/10008737140
symmetric case. As an application, we establish an interesting link with the formation of networks …
Persistent link: https://www.econbiz.de/10014190389
We introduce a noncooperative multilateral bargaining model for a network-restricted environment, in which players can … their communication links with upfront transfers. The main theorem characterizes a condition on network structures for … efficient equilibria and shows the prevalence of strategic delays. If the underlying network is either complete or circular …
Persistent link: https://www.econbiz.de/10013021336
I develop a theory of intermediation in a market where agents meet bilaterally to trade and buyers cannot commit to payments. Some agents observe the past trading history of traders in the market. These informed agents can secure trades by punishing traders who previously defaulted. The...
Persistent link: https://www.econbiz.de/10012806606