We provide a simple characterization of the stationary subgame perfect equilibrium of an alternating offers bargaining game when the number of players increases without a limit. Core convergence literature is emulated by increasing the number of players by replication. The limit allocation is...

We consider an n-player bargaining problem where the utility possibility set is compact, convex, and stricly comprehensive. We show that a stationary subgame perfect Nash equilibrium exists, and that, if the Pareto surface is differentiable, all such equilibria converge to the Nash bargaining...

We show that whenever a decision maker reasons about an optimal decision he is able to find one, even with non-transitive preferences. The existence of a reasoning process allows him to strategically manipulate how he reasons. A reasoning strategy that is robust against (finite) deviations is...

In this paper we study the number of pure strategy Nash equilibria in large finite n-player games. A distinguishing feature of our study is that we allow general - potentially multivalued - best reply correspondences. Given the number K of pure strategies to each player, we assign to each player...

We study coalitional one-deviation principle in a framework a la Chwe (1994). The principle requires that an active coalition or any of its subcoalition will not benefit from a single deviation to a strategy that specifies, for each history of coalitional moves, an active coalition and its move....

We study auction design when parties cannot commit to the mechanism. The seller may change the rules of the game any number of times and the buyers may choose their outside option at any stage of the game. A dynamic consistency condition and an optimality condition property are defined to...

This paper studies allocations that can be implemented by an arbitrator subject to the constraint that the agents' outside option is to start bargaining by themselves. As the population becomes large, the set of implementable allocations shrinks to a singleton point - the conflict-free...

We study repeated prize allocation problem when the discount factors f the agents are not equal. It is shown that the feasible set of payoffs is not well behaved. In particular, it is not convex as it contains holes and caves. The Pareto frontier is everywhere discontinuous and there is an open...

We study farsighted stability under the assumption that coalitions may condition actions on the history of the play. vNM stable set over possible play paths is defined with respect to the indirect dominance relation. We show that such dynamic stable set always exists. It is characterized by a...

We study the existence of pure strategy Markov perfect equilibria in two-person perfect information games. There is a state space X and each period player's possible actions are a subset of X. This set of feasible actions depends on the current state, which is determined by the choice of the...