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- W2901357460 abstract "Abstract This study examines a dynamic process of n-person coalitional bargaining problems. We investigate the evolution of social conventions by embedding a coalitional bargaining setting in a dynamic process. In each period, a group of players may make some coalitional move, that is, forming a new team or negotiating the division of a surplus. Players revise their coalitions and surplus divisions over time in the presence of stochastic noise, which leads players to make a suboptimal decision. Under a logit specification of choice probabilities, we find that the stability of a core allocation decreases in the wealth of the richest player. Furthermore, stochastically stable allocations are core allocations that minimize the wealth of the richest player." @default.
- W2901357460 created "2018-11-29" @default.
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- W2901357460 date "2019-01-01" @default.
- W2901357460 modified "2023-09-23" @default.
- W2901357460 title "Stochastic stability under logit choice in coalitional bargaining problems" @default.
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- W2901357460 doi "https://doi.org/10.1016/j.geb.2018.11.009" @default.
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