In this paper we consider infinite horizon multilateral bargaining with al- ternate offers. We prove that there exists only one stationary subgame perfect equilib- rium outcome and it corresponds to the unique invaria...In this paper we consider infinite horizon multilateral bargaining with al- ternate offers. We prove that there exists only one stationary subgame perfect equilib- rium outcome and it corresponds to the unique invariant measure of a column stochas- tic 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.展开更多
文摘In this paper we consider infinite horizon multilateral bargaining with al- ternate offers. We prove that there exists only one stationary subgame perfect equilib- rium outcome and it corresponds to the unique invariant measure of a column stochas- tic 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.