Equilibrium in a Market with Sequential Bargaining

• DOI: 10.2307/1911015
• Publication Date: 2006-07-05T17:22:35Z
• Authors: Ariel Rubinstein; Asher Wolinsky
• Keywords: 0502 economics and business; 05 social sciences; 8. Economic growth

This paper considers a market where pairs of agents who are interested in carrying out transaction brought together by stochastic process and, upon meeting, initiate bargaining over the terms transaction.The basic problem is treated with strategic approach.The derives steady state equilibrium agreements; analyzes their dependence on conditions such as relative numbers different types; and discusses relations competitive outcome other results search literature.1133