A Model of n-Person Non-Cooperative Bargaining

Authors: 
Sergiu Hart & Andreu Mas-Colell
Abstract: 

We present and analyze a model of non-cooperative bargaining among n participants, applied to games in cooperative form. This leads to a unified theory that has as special cases the Shapley value solution in the transferable utility case; the Nash bargaining solution in the pure bargaining case; and finally, the recently introduced Maschler-Owen consistent value solution in the general (non-transferable utility) case.

Date: 
July, 1992
Published in: 
Pubslied as "Bargaining and Value" in Econometrica 64 (1996), 357-380
Number: 
10