Coalitional bargaining games with random proposers: Theory and application

We analyze a non-cooperative coalitional bargaining game with random proposers. ► The existence of a stationary subgame perfect equilibrium (SSPE) is proved. ► An efficient SSPE allocation is the generalized Nash bargaining solution in the core. ► The model is applied to wage bargaining among one employer and workers. ► Involuntary unemployment may occur.