Ju, Yuan orcid.org/0000-0002-7541-9856 (2012) Reject and Renegotiate:the Shapley value in multilateral bargaining. Journal of Mathematical Economics. pp. 431-436. ISSN 0304-4068
Abstract
This paper investigates three distinctive and intuitive renegotiation bargaining protocols that all yield the Shapley value as the unique subgame perfect equilibrium outcome. These protocols, built on the multi-bidding procedure of Pérez-Castrillo and Wettstein (2001), allow more freedom in multilateral bargaining where rejected players can further negotiate and form coalitions. The self-duality of the Shapley value plays a key role in the second and third results. Moreover, these renegotiation protocols allow an actual play along the equilibrium path to restore the Shapley value in case of a ‘mistake’ made before.
Metadata
Item Type: | Article |
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Authors/Creators: | |
Dates: |
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Institution: | The University of York |
Academic Units: | The University of York > Faculty of Social Sciences (York) > Economics and Related Studies (York) |
Depositing User: | Pure (York) |
Date Deposited: | 28 Jun 2013 00:17 |
Last Modified: | 26 Jan 2025 00:08 |
Published Version: | https://doi.org/10.1016/j.jmateco.2012.08.009 |
Status: | Published |
Refereed: | Yes |
Identification Number: | 10.1016/j.jmateco.2012.08.009 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:75036 |
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Description: Reject and renegotiate: The Shapley value in multilateral bargaining