Reject and renegotiate: The Shapley value in multilateral bargaining

B-Tier
Journal: Journal of Mathematical Economics
Year: 2012
Volume: 48
Issue: 6
Pages: 431-436

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper investigates three distinctive and intuitive renegotiation bargaining protocols that all yield the Shapley value as the unique subgame perfect equilibrium outcome. These protocols, built on the multi-bidding procedure of Pérez-Castrillo and Wettstein (2001), allow more freedom in multilateral bargaining where rejected players can further negotiate and form coalitions. The self-duality of the Shapley value plays a key role in the second and third results. Moreover, these renegotiation protocols allow an actual play along the equilibrium path to restore the Shapley value in case of a ‘mistake’ made before.

Technical Details

RePEc Handle
repec:eee:mateco:v:48:y:2012:i:6:p:431-436
Journal Field
Theory
Author Count
1
Added to Database
2026-01-25