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A Closed Form Characterization of the Stationary Outcome in Multilateral Bargaining

dc.contributor.authorJin, Yi
dc.contributor.authorZhang, Jianbo
dc.date.accessioned2014-08-25T01:02:24Z
dc.date.available2014-08-25T01:02:24Z
dc.date.issued2013-03-01
dc.identifier.citationYi, Jin and Jianbo Zhang. "A Closed Form Characterization of the Stationary Outcome in Multilateral Bargaining." Frontiers of Economics in China, Vol. 8, No. 2, 2013, pp272 – 287. http://dx.doi.org/10.3868/s060-002-013-0014-1
dc.identifier.urihttp://hdl.handle.net/1808/14940
dc.descriptionThis is the author's accepted manuscript, made available with the permission of the publisher.
dc.description.abstractIn this paper we consider infinite horizon multilateral bargaining with alternate offers. We prove that there exists only one stationary subgame perfect equilibrium outcome and it corresponds to the unique invariantmeasure of a column stochastic matrix. We characterize this stationary subgame perfect equilibrium outcome in a closed form, and also extend the approach to the multilateral bargaining with random moves.
dc.language.isoen_US
dc.publisherBrill
dc.subjectHeterogeneous discount factors
dc.subjectStationary SPE
dc.subjectMultilateral bargaining
dc.titleA Closed Form Characterization of the Stationary Outcome in Multilateral Bargaining
dc.typeArticle
kusw.kuauthorZhang, Jianbo
kusw.kudepartmentEconomics
kusw.oastatusfullparticipation
dc.identifier.doi10.3868/s060-002-013-0014-1
kusw.oaversionScholarly/refereed, author accepted manuscript
kusw.oapolicyThis item meets KU Open Access policy criteria.
dc.rights.accessrightsopenAccess


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