Uniqueness of stationary equilibria in a one-dimensional model of bargaining

• 成果类型: Article
• 署名作者: Cho, SJ; Duggan, J
• 署名单位: University of Rochester; University of Rochester
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/S0022-0531(03)00087-5
• 发表日期: 2003
• 页码: 118-130
• 关键词: Bargaining; stationary equilibria

摘要

We prove uniqueness of stationary equilibria in a one-dimensional model of bargaining with quadratic utilities, for an arbitrary common discount factor. For general concave utilities, we prove existence and uniqueness of a minimal stationary equilibrium and of a maximal stationary equilibrium. We provide an example of multiple stationary equilibria with concave (nonquadratic) utilities. (C) 2003 Elsevier Inc. All rights reserved.