Beyond Nash bargaining theory: the Nash set

Article Abstract:

The Nash bargaining theory is extended to non-convex and coalitional problems to investigate the implications of Nash-like axioms for bilateral problems as well as the characteristics of consistency and converse consistency over multilateral conditions. The Nash set of nontransferable games is characterized in which each pair of players is dividing the gains from trade that makes the Nash product of their utilities critical. The intersection of the Nash set and the core is also analyzed with the same axioms for the class of games with a non-empty core.

Econometrics & Model Building, Econometrics, Negotiation, Negotiations, Game theory, Business models, Utility theory, Utility functions

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Bargaining and competition revisited

Article Abstract:

The robustness of Walrasian result is shown from models of bargaining in pairwise meetings and decentralized exchange. An argument that the only assumptions on which the decentralization result relies are continuity and local non-station of preferences and a condition to rule out problems at the boundary of the consumption set is presented.

United States, Analysis, Competition (Economics), Deals, Deals (Business)

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Walrasian allocations without price-taking behavior

Article Abstract:

Research describing the trade management processes of economic agents is presented, with particular focus on constructing interactive choice sets achievable through trades with other agents. Explanations for sources of competitive prices of Walrasian allocations are provided.

Research, Microeconomics, Walrasian model

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