Nash meets Rubinstein in final-offer arbitration
I consider a final-offer arbitration model in which the offers are submitted sequentially, the parties are allowed to accept offers, and the arbitrator maximizes Nash's social welfare function. I show that backwards induction in this three-period model leads to the subgame-perfect equilibrium o...
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier,
2015-09-17T18:06:02Z.
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| Online Access: | Get fulltext |