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Author(s): Ferreira, M.
Finkenstädt, B.F.
Oliveira, Bruno
Pinto, A.A.
Yannacopoulos, A.N.
Title: Bargaining Skills in an Edgeworthian Economy
Issue Date: 2011
Abstract: 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 associate a bargaining skill factor to each participant which brings up a game alike the prisoner's dilemma into the usual Edgeworth exchange economy. We analyze the effect of the bargaining skill factors in the variations of the individual amount of goods and in the increase of the value of their utilities. Finally, we let the bargaining skills of the participants evolve along the trades and we study their variation.
Subject: Ciências da Saúde, Ciências da saúde
Health sciences, Health sciences
Scientific areas: Ciências médicas e da saúde::Ciências da saúde
Medical and Health sciences::Health sciences
Source: Dynamics, Games and Science I, DYNA 2008, in Honor of Maurício Peixoto and David Rand. Springer Proceedings in Mathematics
Document Type: Capítulo ou Parte de Livro
Rights: restrictedAccess
Appears in Collections:FCNAUP - Capítulo ou Parte de Livro
FCUP - Capítulo ou Parte de Livro

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