Uniqueness of stationary equilibria in a one-dimensional model of bargaining |
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| Authors: | Seok-ju Cho |
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| Institution: | a Department of Political Science, University of Rochester, Rochester, NY 14627, USA
b Department of Economics, University of Rochester, Rochester, NY 14627, USA |
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| Abstract: | We prove uniqueness of stationary equilibria in a one-dimensional model of bargaining with quadratic utilities, for an arbitrary common discount factor. For general concave utilities, we prove existence and uniqueness of a “minimal” stationary equilibrium and of a “maximal” stationary equilibrium. We provide an example of multiple stationary equilibria with concave (nonquadratic) utilities. |
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| Keywords: | D70 D72 |
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