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AA00260492-19930002-0019.pdf
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Title |
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NON-COOPERATIVE N-PERSON BARGAINING GAMES AND SYMMETRIC RULES
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OKAZAKI, Tetsuro
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Kana |
オカザキ, テツロウ
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Agricultural Economics, THE KEIO ECONOMIC SOCIETY Keio University
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Keio Economic Society, Keio University
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1993
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Keio economic studies
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30
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2
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1993
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Start page |
19
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30
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Abstract |
We extend Rubinstein's (1982) two-person bargaining game with a fixed common discount factor to an TV-person bargaining game. In this paper, game rules are required to be symmetric. Then we can prove that virtually any partition can be a subgame perfect equilibrium outcome, under 'any' symmetric rule, if the discount factor is more than or equal to a critical value given. So in any symmetric bargaining game, a subgame perfect equilibrium is infinite. In other words, it is impossible to construct a symmetric rule under which a subgame perfect equilibrium is unique. On the other hand, if the discount factor is less than this critical value, a symmetric rule can be constructed under which a subgame perfect equilibrium outcome is unique.
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