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Bargaining over Randomly Generated Offers: A new Perspective on Multi-Party Bargaining

Journal article published in 2005 by Olivier Compte, Philippe Jehiel
This paper is available in a repository.
This paper is available in a repository.

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Preprint: policy unknown
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Postprint: policy unknown
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Published version: policy unknown

Abstract

We study a n−person bargaining problem where offers are gener- ated randomly and each party decides to accept or reject the current proposal. Bargaining terminates when n0 out of the n agents accept the current proposal. The effect of patience, the number of players, as well as the majority requirement (n0) are examined. For example, as n0 increases, we find the following tradeoff :m ore efficient outcome are obtained, but it takes more time to reach them. We also relate the solutions obtained to some classic results in bargaining and voting.