Bargaining and Markets: (Economic Theory, Econometrics, and Mathematical Economics)

Series: Economic Theory, Econometrics, and Mathematical Economics

The formal theory of bargaining originated with John Nash's work in the early 1950s. This book discusses the developments in this theory. It uses the tool of extensive games to construct theories of bargaining in which time is modeled explicitly, and also applies the theory of bargaining to the study of decentralized markets.