Nash meets Rubinstein in final-offer arbitration

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Alternating-offer games with final-offer arbitration

I analyze an alternating-offer model that integrates the common practice of having an arbitrator determine the outcomes if both players’ offers are rejected. I assume that the arbitrator uses final-offer arbitration (as in professional baseball). I find that if the arbitrator does not excessively favor one player, then the unique subgame-perfect equilibrium always coincides with the subgame-per...

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ژورنال

عنوان ژورنال: Economics Letters

سال: 2011

ISSN: 0165-1765

DOI: 10.1016/j.econlet.2010.10.020