Time-preference heterogeneity and multiplicity of equilibria in two-group bargaining

Artikel

We consider a multilateral bargaining game in which the agents can be classified into two groups according to their instantaneous preferences. In one of these groups there is one agent with a different discount factor. We analyze how this time-preference heterogeneity may generate multiplicity of equilibria. When such an agent is sufficiently more patient than the rest, there is an equilibrium in which her group-mates make the same proposal as the members of the other group. Thus, in heterogeneous groups the presence of more patient members may reduce the utility of its members.

Objekt anzeigen

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Games ; ISSN: 2073-4336 ; Volume: 7 ; Year: 2016 ; Issue: 2 ; Pages: 1-17 ; Basel: MDPI

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Bargaining Theory; Matching Theory
• Thema: multilateral bargaining ; one-dimensional ; multiple equilibria ; time preference

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Cardona, Daniel ; Rubí-Barceló, Antoni
• Ereignis: Veröffentlichung
• (wer): MDPI
• (wo): Basel
• (wann): 2016

Weitere Informationen

• DOI: doi:10.3390/g7020012
• Handle: http://hdl.handle.net/10419/167975