Bargaining Skills in an Edgeworthian Economy

• Tipo: Artigo em Livro de Atas de Conferência Internacional
• Data: 2011

Autores

Ferreira, M (Autor) Outra; Finkenstadt, B (Autor) Outra; Oliveira, B (Autor) FCNAUP; Pinto, AA (Autor) FCUP; Yannacopoulos, AN (Autor) Outra

Ata de Conferência Internacional

Título: DYNAMICS, GAMES AND SCIENCE I

Páginas: 339-352

International Conference on Dynamical Systems and Game Theory in Honor of Mauricio Peixoto and David Rand

Univ Minho, Braga, PORTUGAL, SEP 08-12, 2008

Indexação

ISI Web of Knowledge - 0 Citações

Scopus - 0 Citações

Outras Informações

ID Authenticus: P-00G-66D

DOI: 10.1007/978-3-642-11456-4_21

Abstract (EN): We present a model of an Edgeworthian exchange economy where two goods are traded in a market place. For a specific class of random matching Edgeworthian economies, the expectation of the limiting equilibrium price coincides with that of related Walrasian economies. The novelty of our model is that we assign a bargaining skill factor to each participant which introduces a game, similar to the prisoner's dilemma, into the usual Edgeworth exchange economy. We analyze the effect of the bargaining skill factor on the amount of goods acquired and the overall increase in the utility of the consumer. Finally, we let the bargaining skills of the participants evolve with subsequent trades and study the impact of this change over time.

Idioma: Inglês

Tipo (Avaliação Docente): Científica

Nº de páginas: 14