Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
957082 | Journal of Economic Theory | 2007 | 8 Pages |
Abstract
We establish a link between von Neumann–Morgenstern stable set and the Nash solution in a general nn-player utility set. The stable set-solution is defined with respect to a dominance relation: payoff vector u dominates vv if one player prefers u even with one period delay. We show that a stable set exists and, if the utility set has a smooth surface, any stable set converges to the Nash bargaining solution when the length of the period goes to zero.
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Authors
Klaus Kultti, Hannu Vartiainen,