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Patience in repeated bargaining: revisiting Muthoo (1999)
- 1.0490244 - NHU-C 2019 RIV NL eng J - Journal Article
Zápal, Jan
Patience in repeated bargaining: revisiting Muthoo (1999).
Journal of Mathematical Economics. Roč. 75, March (2018), s. 150-153. ISSN 0304-4068. E-ISSN 1873-1538
Institutional support: Progres-Q24
Keywords : repeated bargaining * patience * discounting
OECD category: Economic Theory
Impact factor: 0.634, year: 2018
The paper shows that Corollary 10.3 in Muthoo’s book Bargaining Theory with Applications (Cambridge University Press, 1999) is incorrect and proves that patience increases a player’s equilibrium share in repeated bargaining situations. It clarifies why a tempting strategy of proof – replacing terms of an expression by approximations with identical limits, then doing comparative statics or taking limits – is flawed and will yield wrong conclusions in other contexts as well.
Permanent Link: http://hdl.handle.net/11104/0284509
Number of the records: 1