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Multilateral negotiations with private side-deals: a multiplicity example

Author

Listed:
  • Roberto Serrano

    (Brown University)

  • Sandeep Baliga

    (Northwestern University and Institute for Advanced Study)

Abstract

We study a multilateral negotiation procedure that allows for "partial agreements" in which responders are told only their own shares. Applications of our model include negotiations under "joint and several liability." Unlike previous models of multilateral bargaining with exit, we find that there are multiple equilibrium outcomes.

Suggested Citation

  • Roberto Serrano & Sandeep Baliga, 2001. "Multilateral negotiations with private side-deals: a multiplicity example," Economics Bulletin, AccessEcon, vol. 3(1), pages 1-7.
    • Handle: RePEc:ebl:ecbull:eb-01c70003
    as

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    References listed on IDEAS

    as
    1. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
    2. Martin J. Osborne & Ariel Rubinstein, 2005. "Bargaining and Markets," Levine's Bibliography 666156000000000515, UCLA Department of Economics.
    3. Vincent J. Vannetelbosch, 1999. "Rationalizability and equilibrium in N-person sequential bargaining," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 14(2), pages 353-371.
    4. Baliga Sandeep & Serrano Roberto, 1995. "Multilateral Bargaining with Imperfect Information," Journal of Economic Theory, Elsevier, vol. 67(2), pages 578-589, December.
    5. Baliga, S. & Serrano, R., 1995. "Negotiations with Side-Deals," Cambridge Working Papers in Economics 9510, Faculty of Economics, University of Cambridge.
    6. Unknown, 1986. "Letters," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 1(4), pages 1-9.
    7. Haller, Hans, 1986. "Non-cooperative bargaining of N [ges] 3 players," Economics Letters, Elsevier, vol. 22(1), pages 11-13.
    8. Vijay Krishna & Roberto Serrano, 1996. "Multilateral Bargaining," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 63(1), pages 61-80.
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    Cited by:

    1. Roberto Serrano, 2007. "Bargaining," Working Papers 2007-06, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
    2. Yi-Chun Chen & Xiao Luo, 2008. "Delay in a bargaining game with contracts," Theory and Decision, Springer, vol. 65(4), pages 339-353, December.

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    More about this item

    Keywords

    imperfect information;

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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