We propose a variation of the non-cooperative bargaining model for n-person games in coalitional form, introduced in Hart and Mas-Colell (1996). This strategic game implements, in the limit, a new NTU-value for the class of monotonic games. This value coincides with the Consistent NTU-value (Maschler and Owen,1989) for hyperplane games, and with the Shapley value for TU games (Shapley, 1953). T...

Motivated by recent insights on the two solution concepts of Nash and nonsymmetric bargaining games, obtained from an algorithmic study of these notions [Vaz09], we take a fresh look at understanding their quality and robustness by subjecting them to several “stress tests”. Our tests are quite basic, e.g., we ask whether the solutions delivered are efficient, fair, respond in a desirable manner...

Building on Genicot and Ray (2006) we develop a model on non-cooperative bargaining that combines the two main approaches in the literature of contracting with externalities: the o¤er game (in which the principal makes simultaneous o¤ers to the agents) and the bidding game (in which the agents make simultaneous o¤ers to the principal). Allowing for agent coordination, we show that the outcome o...

Within the class of superadditive cooperative games with transferable utility, the convexity of a game is characterized by the coincidence of its core and the steady bargaining set. As a consequence it is also proved that convexity can also be characterized by the coincidence of the core of a game and the modified Zhou bargaining set (Shimomura, 1997)

This paper examines evolutionary equilibrium selection in bargaining models. We show that random best-response and continuous best-response learning dynamics give rise to (different) simple sufficient conditions for identifying outcomes as stochastically stable. This allows us to characterize the implications of these dynamics in simple bargaining games.  2003 Elsevier Inc. All rights reserved...

Pricing and advertising are two important marketing strategies in the supply chain management which lead to customer demand’s increase and therefore higher profit for members of supply chains. This paper considers advertising, and pricing decisions simultaneously for a three-level supply chain with one supplier, one manufacturer and one retailer. The amount of market demand is influenced ...

We study the least core, the kernel and bargaining sets of coalitional games with a countable set of players. We show that the least core of a continuous superadditive game with a countable set of players is a nonempty (norm-compact) subset of the space of all countably additive measures. Then we show that in such games the intersection of the prekernel and the least core is non-empty. Finally,...

This paper is concerned with the question of extending the definition of the bargaining set, a cooperative game solution, when cooperation takes place in a repeated setting. The focus is on situations in which the players face (finite or infinite) sequences of exogenously specified TU-games and receive sequences of imputations against those static cooperative games in each time period. Two alte...

Whenever rational agents form coalitions to execute tasks, doing so via a decentralized negotiation process—while more robust and democratic—may lead to a loss of efficiency compared to a centralized solution. To quantify this loss, we introduce the notion of the Price of Democracy (PoD), which measures the amount of resources needlessly committed to the task(s) at hand. After defining this con...

This paper proposes a new approach to equilibrium selection in repeated games with transfers, supposing that in each period the players bargain over how to play. Although the bargaining phase is cheap talk (following a generalized alternating-offer protocol), sharp predictions arise from three axioms. Two axioms allow the players to meaningfully discuss whether to deviate from their plan; the t...